Current:

Leader (1850-1860), 25th September 1858, Edition 1 of 2, Page 1011, Untitled Article

Page 1011
Page 27
27 of 32

On this page

  • Text (7)
  • Transcript

    • Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.

      Additionally, when viewing full transcripts, extracted text may not be in the same order as the original document.

      Untitled Article

      London , Friday Evening . The accounts from all parts of the country are again extremely satisfactory . As far as regards the linen and woollen manufactures , there has been a partial degree of reaction ,, owing to purchasers having had their operations arrested by the extreme firmness of prices ; but the suspension of dealings , besides being partial , is only temporary . The fact is , there is a growing demand for linen and -woollen goods , which will be supplied , for the necessities of consumers require them . We , therefore , anticipate that we shall see in these branches a similar result to that which has already occurred in the cotton tradeand which must always occur at seasons when a

      to the advanced prices asked for India goods , there has been little or nothing done in them during the week , but as manufacturers generally are free of stock , and in many cases under contract , there is no disposition , especially in the face of an advancing cotton-market , to give way , and we have consequently to report a quiet but very firm market for these goods . In other descriptions there is no change to notice . There is perhaps not quite so active a demand for T cloths and long-cloths as we have had for the la ^ t few weeks , but the production is well engaged , and prices are firm with an upward tendency . "

      Messrs . George Fraser ,. Son , and Co . report : —" There is not much change in prices since last Tuesday , but yarns are on the whole dearer . For goods the demand is evidently less active , being checked by the recent large advance in prices . Buyers are evidently disposed to hold aloof , and sellers are in some cases more wishful to book orders . " In Leeds there has been considerable activity , though the attendance of merchants in the halls has not been very important . Current quotations have been maintained in all descriptions of cloth . Fancy articles are still in demand , and those among them which show any peculiar excellence in pattern or material , have obtained rather higher rates . A good winter trade is now a matter of certainty . The meeting of the British Association here this week proves rather an impediment to business , as some of our manufacturers , being full , of visitors , have kept away from the halls .

      At Bradford there has been more quietness in the wool marketthari for some time past , the high prices having caused a pause . Quotations , however , are very firm , especially for bright-haired sorts . Spinners and manufacturers are unable to realise adequate profits unless they can obtain a commensurate advan ce for their goods , which merchants this week have scarcely ' been disposed to pay . This is the sole cause of the quietness of the market ; spinners and rrianufacturers remaining very firm in their requirements . At Huddersfield , however , there has been a numerous attendance of bnyers , and the same activity continues which has prevailed during the last five or six weeks . Numerous orders for winter goods are in hand , and all the factories are full . Wool of all sorts , therefore , continues in demand , and the advanced prices are more readily obtained .

      The worsted trade of Halifax shows no material change , though the woolstaplers have been doing less owing to the prices required . But , as at Bradford , the bright-haired and finer qualities are in demand , , and quotations have an upward tendency . The manufacturers are well employed . Most descriptions of goods are in stead }* : demand , winter and autumn qualities being chiefly in request . Stocks are certainly not accumulating . Yarns are stiff ia price , as may be expected from the prices of the raw material , and the spinners have as much as they can . do to execute contracts made , a week or two ago . New contracts they will not take except at an advance .

      At Rochdale there are great complaints of the advanced prices required for wool ; but staplers continue very firm ) saying their stocks are light , and that higher terms may yet be looked for . Brokes of good quality command high prices . The flannel trade of the district continues as active as at any period within t * he last two months . For the finer classes of fancy flunpels , for light goods generally , and for unions , the inquiry is exceedingly active , and large quantities have changed hands in the course ot the week . The price only stands in the way of even a greater business ; and some manufacturers declare they will sooner run their mills short time than mako goods at present terms , if the raw material continues to go up . The general tone , however , is a little more ohoerful than this j and there would be perfect contentment if wools would but go down a little . But of that there is no present prospect .

      The ribbon weavers of Coventry have not yet terminated their differences with their employers , consequently this particular production in that town is not improving ; but the demand is being supplied from other places , nnd merchants laid no dUHeuUy iiv placing their orders / In SpHnlfields thero is nn increasing mako of velvets for winter . From Macclcelield , Middloton , Congloton , and the other souts of the silk trade , the accounts are generally satisfactory . Tho lace and hosiery trades of Nottingham and Loiccstor are becoming more promising . There ia every probability of an advance in the prices , and of tho demand being conceded , as stocks are , on tho whole , very light , and yarns arc advancing . As far as laco ia concornod , the Inquiry appears to run principally upon plain nets .

      Tho Irish linen trade Is good . In hand-loom manufactures thero has boon n fair demand at Bolfast , for ( I rills and atookfl uro } l ^ tl D ^ anm'a-arfl . aauaU ( . JEbfwOnd " prices very linn . Prhiting'lawna and cambric hunclkerchlui'd aro nteo in very good demand , at 11 rm rates . Manufacturers havo refusoil orders for light llnons for blenching , at old rates ; < m advance consequently has been obtained , and stocks nro very low . -Gooila for tlyo-Injj , and hollamta , an well as hoiivy linens , aro in request , but without ohiingo In prices . Power-loom drills uro wanted ; and , in heavy linens , manufacturers havo boon obliged to decline orders of large extent , owing to

      , scarcity of the raw material is accompanied by a general fall in stocks ; That is , after each period of comparative dulness , caused by the unwillingness of purchasers to accede to the manufacturers' terms , a new starting point has arisen based upon those higher terms , and an active business recommenced . So far as we can see this is extremely likely to be the case in these instances , for commerce , like history , more frequently repeats itself than is commonly suspected . In the cotton trade , indeed , something of the same process is again indicated in the subjoined reports . The raw material has partially advanced again this week at Liverpool , and the effect is seen in the firmness of the Manchester spinners ' prices for their yarns , and in the difficulty which the Manchester manufacturers feel in obtaining correr

      sponding terms for their goods . Yet no one can be found to doubt that if cotton keeps up , as is more than probable , those prices must be given . How can it be otherwise , when the whole of . purope is requiring yarn , ami the whole of India * Australia , and China are wanting goods , to say nothing of the ordinary requirements of the home market ? We therefore see nothing in the mild complaints from Bradford , Rochdale , and Leeds , but the natural operation of an ordinary

      commercial law , which involves no real hardship , and to which all parties must alike submit . From the iron and hardware districts the accounts continue progressively favourable ; and it may sound strange after what we have heard thence for many months past , but the fact is , they are extending their works by building new factories in the anticipation of a more extensive trade . The silk trade is also improving . Indeed , all the great industries of the country are well engaged , and they are almost certain to be so for the remainder of the

      year . .. . . The state of the money-market encourages this expectation . If trade required it , any conceivable amount of capital would at once be forthcoming , at very moderate rates , for its development ; but , from the causes at which we hinted last week , the assistance is not needed . Trade is too sound and too profitable to need resort tojarti ficial capital , and it will so continue as long as the production remains , as it now is , below the necessities of the public . Money , therefore , is rapidly accumulating , and in proportion as it is accumulating is the difficulty of finding

      employment for it . The supplies will be further increased in October by the dispersion of at least 6 , 000 , 000 £ in dividends . Capital , therefore , is likely to bo cheaper than it now is ; and it is extremely probable that the Bank of England will follow the example of the Bank of France and reduce its rate of discount , in order to got out some portion of its enormous reserve . But , in tho present condition of trade , wo do not think this expedient will tempt people to commence a system of discounts which would compel them to force a trade for the solo profit of tho inoney-de « lors and jobbers .

      In Manchester tho general advance in prices , which ve have noticed as it occurred , lins been rirmly maintained ; but in tho current week there has been somewhat less activity , owing to the terms required by spinners and manufacturers . Tho chock to business , however , is only apparent , though had no advance boon required tho transactions would certainly have boon unprecedented in extent . Very extensive orders , particularly for yarn , are now , in the hands , of tho agency houses , and they inuat shortly bo placed . Indeed , some spinners have made largo sales at AU . to £ d . per lb . over the higheat-prioos of last week , ospeaially for India and Germany . The homo trade havo also found thomsolvoa compelled to buy heavily , and to pay ftd . per lb . moro than last week for fine counts . For cloths

      manufacturers liavo beott unwilling to mako any concoHsion , being fall of orders ; but for some deaoriptiona thoy have taken gd . pOr piooo loss . The manufacturers of shirtings and printing cloths have abstained from further purchases of twiat and woft , because their gooda lag in the Market at inadequate quotations . But , adjust intimated , an classes of spinners aro at oaao about further sales , © specially as tho raw material la tondiiiK _ inv »^ . via « f mmioor'lon ^ olmmrTr ^ m ^ l ^ vhuor ^ buTted to tho homo tmdo , have been lotts aubloOt to fluctuation in prioo than India and eomo othor "BMt fabrics , tho demand being of a moro nwaerm © and steady character . In , those gooda the * " }«»? 8 « aping la * to a fair ' amount and prison ( Iriu . St * * «« Mtonoy to inoroaxo , but only to a nuuleruio w * wnt , Mossrs . John Slagg and Co . report : — ' * Owing

      Untitled Article

      THE METAL TRADE . COPPEK . The associated smelters to-day reduced the price another Ad . per lb ., making the price of tough cake 98 / . per ton , and of best select 101 / . Within the last few months the prico has been reduced to this quotation from 126 / 1 , and a buoyant market . The home-trade has fallen off ; the Board of Trade returns show a decreased « xport ; there is a large stock in France ; and the consequence will now be the stoppage of many mines , and a great reduction in the production of ores . The Societe" Maritime , which had made a contract for 2000 tons of bar copper in chile , at a very high rate , has rejected large portions of the deliveries for non-compliance with the contract , but in reality to escape the heavy loss .

      Untitled Article

      Messrs . Truejman and Fry state there is an absence of activity in every branch of the metal market , but operations havo become much more numerous , and there is an improved feeling generally . Iron- —Both Welsh and Staffordshire descriptions have been more purchased , and Welsh , has become dearer . Scotch pig iron has improved to 55 s . Cd . cash , being an advance of Is . 6 d . per ton since our last , with still upward tendency .. , ..., Tin . —There has been a sufficient demand for foreign to keep prices steady ; English , however , is rather dull of Sale . Spelter . —But little done , and market quiet . Lkao . —A fair business doing , and prices are firmer . Tin Plates . —At low rates there have been some considerable sales .

      Untitled Article

      English and Dutch Tejlbcjraph . t—The W . Cory Bcrew steam-ship , accompanied by tho Reliance steaming , have left Greenwich , having on board the submarine cable to bo laid down between Dunwioh , in S 4 iffQlk ,. ivnd ^ ZandwoorVin ^ Ho ^^^^ miles in length , weighs nearly 1400 tons , and is therefore ton times as heavy por mile as the Atlantic , and contains four conducting wires , Turn WnaTonw Bank . — Tho Oreetnoah Telegraph loams that two accountants who havo boon engaged tor the . last six vveoks investigating tho bank books at too instance of tho eommittoo of eharoholcJora , Jmvo presented a report to tho oftbot that tho conoorn had boon bankrupt six or seven years since . >

      Untitled Article

      their terms not being acceded to . Buyers of light linen for bleaching are firm at higher rates than they could b bought at last week ; but buyers are holding back , con sequehtly there is not much business . Printing lawn and handkerchiefs in moderate request . Roughs havt realised an advance of £ d . per yard- Stocks are very low . The adyance required for white linens has checked operations in this class of goods . The home trade is very good , and large orders have this week been received from the United States . The demand for line yarns has been active , and with , small stocks a further advance of l £ d . per bundle is asked by spinners . Tow yarns firmly maintain the late advance , but the demand has . not been animated during the week ; in most cases , however , spinners are working up orders previously entered upon .

      The flax market of Dundee has been very firm throughout tbe week , and a fair amount of business has been done at very free prices . The accounts from the various foreign markets continue to be of such a nature as to afford no hope of any relaxation in the value of the article . We have had several arrivals since our last , arid the imports have always obtained higher prices than prevailed last year . Tows and jute are in demand at firm prices . A very large amount of business has been done in yarns at imposing prices . More has been doing in linens ; and though prices are scarcely to be said to have advanced , holders are decidedly more firm in tTieir demands . . in tneir aemanqs . .

      There is no change of importance in the Birmingham , Wolverbampton , and Sheffield trades ; but the home demand for goods continues to improve , while most of the leading houses are better supplied with foreign orders . As yet , however , employment is not quite full ; but some branches are very active , and are working overtime ; The demand runs mainly upon useful articles . In Birmingham extensive new manufactories are rising up in all parts of the town and neighbourhood , and many are now in course of erection . It is partially the same at Wolverhampton and Sheffield . This fact is pretty conclusive evidence that renewed prosperity is anticipated , and , so far , appearances favour that expectation . The iron and lead works Of North and South Wales are well occupied . Some of the lead works in Flintshire are flourishing .

      In Glasgow a large business has been done m iron during the Week" at steady prices . Tlie same may be reported of its cotton manufactures . The Staffordshire potteries are fully employed . The demand for earthenware from the Australian colonies eontines . . '

      Untitled Article

      GENERAL TRADE REPORT .

      Untitled Article

      No . , September 2 g , iggg ^ L ^ T ^ ^ E ^^ gl J l 6 l l _

  • Citation
    • Leader (1850-1860), Sept. 25, 1858, page 1011, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2261/page/27/