Current:

Leader (1850-1860), 2nd October 1858, Edition 1 of 2, Page 1041

Page 1041
Page 25
25 of 32

On this page

  • Text (5)
  • 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

      --v 6 v . » —let them see , and they have eyes keen enough to mark what is superior to their owiv products * or suitable to their wants , or lower than heir prices They are economical , practical , utilitarian customers ; and , in commercial matters at least , show real common sense .

      Untitled Article

      London , Friday Evening . In some instances , and they are only very few , the trade reports of the week are rather less satisfactory than in the week preceding . In Manchester , for example , the transactions have been less , and in the iron and hardware branches some impatience appears to be felt because the progress of amendment has not included all their various departments . There is , however , almost a cessation of those mild complaints from Bradford , Kochdale , and Leeds , which appeared to be incipient eight or ten days ago because the high prices reqmred for wools threatened to restrict the orders of merchants . But all these temporary checks , it is quite clear , proceed from the same cause—the temporary unwillingness of buyers to

      good ? , and , -with a fair inquiry , an advance was demanded for all descriptions 4 of low roughs . In Lurgan there was a small market , but prices were considerably dearer , " especially for low damasks and napkins . Fine lawns not so brisk . In Ballymena there was a 6 mall supply of goods , which met a good demand at firm rates . As to Belfast , handloom drills are low in stock , and , with a good demand ,, prices liave slightly advanced . The same remarks apply to all descriptions of goods . Manufacturers require a further advance on fresh orders for goods not in stock , which , to some extent , checks business . Power-loom drills and heavy linens move off freely at previous rates . Manufacturers ask an advance on these goods , also on all fresh orders , with which

      buyers for the present refuse to comply . Owing to the short stocks in first hands of light linens for bleaching , manufacturers and holders demand an advance that cannot , as yet , be realised . Printedlawns and cambric handkerchiefs in fair demand , and some considerable orders have been given in advance . Stocks small . Roughs : In the absence of stock , manufacturers are chiefly working to order at the recent advance , which buyers , after resisting for some time , are how obliged to give . Unions begin to attract more inquiry , but the transactions are trifling as yet . White linens meet a good inquiry ; but fair stocks and the increased prices demanded still partially retard business . A slight advance has in some cases been realised , but not at all in proportion to the

      enhanced cost of brown goods . The home trade continues healthy , but not active ! The New York advices are not so encouraging , owing to the prevalence of yellow fever in the southern states , which usually take off a large quantity of goods- Buyers for that district are prevented by this circumstance from entering the market with any spirit . In yarns there has been less animation , but prices are firmly maintained for both line and tows . In some exceptional cases spinners are obliged to ask a further advance , owing to the increased price of flax . The mills continue actively engaged at full time , notwithstanding which stocks continue small , and . several spinners are oversold . All the country flax markets are firm , and prices higher .

      Ifo change of importance has occurred in the linen trade of Dundee , but a further rise has been established in several descriptions of foreign flax , of from 1 ? . to 21 . per ton , compared with last week . The market , however , has been animated , and a considerable amount of business done at full prices . Old stocks are gradually becoming more and more reduced . Fine tows have been in extensive demand ; also jute . Although complaints still proceed from Birmingham , Wolverliampton , and Sheffield-, there is no doubt that the iron and hardware trades are steadily improving ; and a good spring trade is expected at a much earlier period than usual . The foreign trade is rather more active than it was a fortnight ago . The orders from the

      United States were again small this week ; but from other quarters a few have come to hand , and in the present state of trade these tell much more than they would do under other circumstances ; because , being immediately given out by the merchants , they enable the manufacturers to keep the workpeople on , making on an average not so much less time as might be supposed from the languid condition which trade has assumed . There are still a good many Russian orders in hand ; but in other respects the » continental trade is inactive , especially as regards the Mediterranean and Egyptian markets . The iron trade has slightly improved ; the pig-mastera are hi consequence getting half-a-crown more for good hot-blast iron than they could have done ten days ago . * The Staffordshire Potteries continue in full occupation ; and there is an increasing number of orders from abroad , particularly from the colonies .

      accede to terms which appear extremely high compared with those in periods riot long elapsed when forced sales were made at any price to obtain the means of meeting engagements . Buyers , however , are now comprehending the real position of things , and their reluctance to accede to the terms required by producers is gradually disappearing before the demands of consumers . Hence there is more doing in the great trades of Yorkshire . In Manchester it may be , and perhaps is , to some extent , a fact , that spinners and manufacturers , depending upon the extent of their existing contracts , have , during the last ten days , been requiring prices somewhat out of relation to the " prices of raw cotton . This , however , is but an ordinary incident of the trade , which will speedily

      be rectified-by the immutable laws of supply and demand . It does not affect the trade itself . Being a simple circumstance of a casual and ordinary character , we attach little importance to the change in the iriarket in the early part of the week , the more especially as there was a better tendency in some respects to-day ; in fact , it was only the natural reaction from the previous state of animation . Indeed , whether we regard the woollentrade last week or the cotton and hardware trades in the present , we see reason to believe that each period of temporary depression only furnishes a basis and a platform for the further progress of substantial improvement . That trade is extending is proved by the increasing takes for merchandise traffic upon most of the leading

      lines ofTailway , and in the maintenance of freights to the busiest ports of our foreign customers . It is also proved by the diminution in the number of poor receiving relief throughout the manufacturing districts . We have reason to believe that in some of the manufacturing districts the change in this respect has been most remarkable , and that a document will shortly be published that will excite attention from the proofs it will contain of the rapid recovery from the late severe collapse . It is further proved by the state of the revenue , for it is a remarkable fact that customs duties and national taxes never flowed into the Exchequer with more ease and celerity than during the second half of the quarter just terminated . market have little to

      With respect to the Money we sav . Some disappointment has been felt in the City at the Bank Directors maintaining the minimum rate of discount at 3 per cent , in the face of their enormous accumulations of bullion , the magnitude of their unemployed reserve of notes , and the decreasing aggregate of their private securities , out of which the chief profits of the Corporation must always arise . But this disappointment has not been felt by gcnoral trade . It is confined to the money dealers and the Stock Exchange speoulutors . Trade , for some months , has not gone to the Bunk for the assistance it required , as any amount could bo obtained on considerably lower terms elsewhere ; but the fact is , that it has not required any matorial aid from any department or branch of the Money market . What it is now , it has become by its own substantially unaidod resources . Wo thoroforo doubt oxtremely

      whothor , oven if tho Bank does reduce , as wo expect it will next Thursday , if not before , the money brokers will be able to tempt commercial men out of thoir present sufo and promising condition by tho offer of discounts at 2 per cent . Tho policy of tho Bank , therefore , though It is watched with extreme attention , has but littlo influence upon tho operations of general trado under existing circumstances . In Manchester tho activity which has markod tho course of transaction for some weeks past has undergone , this week , some reaction , partly in consequence of tho advices from America having depressed tho Liverpool cotton-markot , and partly from tho unwillingness of buyers to accede to tho terms required by manufuotjfbrs . This day week there was a steady business both hvyarns and cloths at very freo prices . On Tuesday it was ovldont that buyers wore restricting their purchases to tho supply of their immediate wants , -while producers

      acted according to theirindividuarcircumstance 3 , and were firm or the reverse just as they happened to be well provided with orders , or their contracts nearly exhausted . This disposition discouraged business , as buyers expected it would result in lower prices for the rest of the week , arid as they , abstained from operations the market was naturally flat . Yarns and good 3 were alike affected . Goods for the India and China markets were particularly dull of sale ; shirtings were sold at a decline of 3 d . per piece on the extreme rates of last week ; but in other descriptions of cloth no change was established in quotareduction Id

      tions . In yarns the average was . Twofolds from No . 60 ' s upwards were an exception ; they were firm with a hardening tendency . This reaction is only what was foreseen , and there is nothing in it that threatens to end in depression . It is a pure question of price between buyers and producers , the contest being regulated by the character of the advices from the United States , and from India and China . Production must go on , as stocks everywhere are small ,, and the demand , notwithstanding occasional fluctuations , is steadily progressing . The feeling to-day was more favourable than on Tuesdavthough transactions were only moderate .

      , To-day at Leeds the business of the week has been a full average . The attendance at the cloth halls has been good , and the tone good and firm . All the accounts from the immediate neighbourhood concur in stating that trade is either very good , or rapidly improving . There is a heavy demand for winter fabrics , but a good deal has also been done in mantles and other light descriptions . Under these circumstances , the prices of cloth and of wool remain firm . At Bradford there has been considerable inquiry for worsted 3 'arns , especially by the home houses , but the form bstacle to

      prices offered for future delivery an o much business being done . Spinners remain very firm in reqniririg prices somewhat proportionate to the present high rates for the raw material . The foreign houses appear to be waiting the result of the Leipzig fair . Should there be a good demand there , the worsted trade in this district will receive a great impetus . Cotton yarns are firm , and in fair demand . The piece market continues as last reported . Manufacturers are well employed to order , but there appears to be some reluctance to place orders upon the advanced rates now current in consequence of the increased prices of wool and worsted

      and cotton yarns . At Rochdale , the disposition of the woolstaplers to insist upon an advance in the price of every quality of the raw material has rather checked transactions . . But stocks ore light , and moire is expected to be done . All tho flannel manufacturers are fully employed on orders . While the trade to the United States continues languid , there is a fair amount of business with Canada . A iarge quantity of goods has been disposed of to-day , and the autumn trade may be considered to have fairly set in . For some weeks to come there is a prospect of

      great activity , as some of the manufacturers are unable to meet the demands now made on their powers of production . In some cases buyers have shown more disposition to give an advance , but as yet those advances are by no means commensurate with the rise in wool . Yorkshire goods are in very , fair request , especially kerseys , and in some instances at slightly better prices . For goods of good quality advances must now be given oiWanufncturcrs refuse to sell . The Glasgow cotton market has followed the course of that at Liverpool and Manchester , but more business has been done . The iron market is steady and regular , with

      rather increasing orders . At Huddersfield trado remains exceedingly healthy , although business has not been quite so active this week as last . Black doeskins and mixtures of all sorts have been most in demand ; while inquiries are still made rather extensively for good stylos in fancy goods , of which there aro few in the market . In tho course of tho week some rather large orders have been received for spring goods . This is xyithor early , and it indicates a coming good trade in those descriptions . Bedford and woollen cords advanced on Wednesday , and there is scarcely a pieco on hand .

      At Halifax there is littlo or no change to report . Holders of wool are not at all disposed to lower their terms ; consequently there have been but limited transactions in tho raw material . Spinners aro cautious in buying for tho present j but they are full of orders , and they ara requiring full prices themselves , and refuso to execute many , except at very top prices . Manufacturers aro fully occupied with contracts , consequently no goods are being thrown upon tho market . Tho lace and hosiery trades of Leicester and Nottingham continue in a satisfactory state . For useful articles tho demand is good , and likely to remain so ; but for fancy descriptions thero hns boon loss inquiry , owing to tho approach of winter . Tho laccmakors aro bettor omployod . In fact , there is full employment , both in lnco and hosiery , for nil roally good workpeople . Yarns of all descriptions nro firm , with an upward

      tonilonoy . Tho silk trado remains as stated in . tho last report . At Northampton nnd Norwich tho shoo trado is good , but without any very extraordinary activity . Tho Irish linen trade is unquestionably good . At the lout market in Armagh , there was a small supply of

      Untitled Article

      REVIEW OF THE WEEK . Mincing Lano , Friday Evening . Beyond imparting a stability to current values , tho increasing abundance and cheapness of money have apparently had no immediate effect in these markets , which during tho present week have been more than usually inactive . Tho few speculative operations previously noticed in ono or two articles have materially abated , where they have not altogether died out , whilst bond fide purchases have in many cases been upon so small a scale as to bo barely sufficient to meet tho ordinary

      requirements for immediate consumption . It is inferred thoroforo that dealers aro in some measuro trenching upon thoir stocks , which wore to an extent replenished in tho period of activity noticed a few weeks back . This rosorvo on tho part of buyers has checked flio buoynncv in priqos , which , although comparatively linn , have not that decidedly upward bias which characterised them recently . Meanwhile tho deliveries from tho publl . 0 do . cks and warehouses continue satisfactory , and may be taken as indicating that the ^ Sd HcJ " tion is merely on the surface , ami that the broad . undercurrent of trade flows steadily on without impediment . ¦ •

      Untitled Article

      GENERAL TRADE REPORT .

      Untitled Article

      HOME , COLONIAL , AND FOREIGN PRODUCE MARKETS .

      Untitled Article

      ¦ ¦ ¦ ¦ ¦ ¦ . . '' . - ¦ ' ' . ¦ . ¦ ¦ rT , « - ^ » . « : - | fttB / i THE REAPER . 1041

  • Citation
    • Leader (1850-1860), Oct. 2, 1858, page 1041, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2262/page/25/