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    r*T*WI7"> A TP 'HT! 1 ?PPOT?T XxJUIXJUl&JllJ XXkJZJJiu jaxix uava

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    THE TBADE OF NINE MONTHS . In the preceding tables we lay before the reader the full particulars of our trade in nine months , and therefore shall limit ourselves to noticing one or two peculiarities . Some im ports have declined in the month , such as coffee , flax , hemp ,-hides , timber , and wine , but cotton , sugar , wool , with corn , have increased . The tonnage of shipping entered inwards in the month has Men off to 791 , 8 S 6 as against 931 , 014 in 1857 . The declared value , however of-our exports in the month , 10 , 713 , 705 / ., is only 355 , 109 / .

    less than the declared value in the mouth ot loo/—11 06 S 874 / . ; and the tonnage of shipping cleared outwards in the month , 996 , 04-1 , is something greater than the tonnage cleared outwards m the corresponding month of 1857—990 , 209 . Although the principalshare in the improvementof our exports is due to our increasing trade with India , we notice with much satisfaction that there is a sensible increase in the cottons , mixed silks , woollens , and worsted stuffs exported to the United States in the tember 1857

    month as compared to Sep , - We hope , therefore , that the trade with the States , which is not purchased by any sacrifice like some of the trade to India , will now rapidly revive , though we cannot expect it to reach , even in some years , the gigantic magnitude it had attained prior to the commercial convulsion of last year . A considerable sum , equal to the whole deficiency in the value of exports for the month , is accounted for by the cessation , of the export of British-made spirits to France . This was , in 1857 , ol the

    purely incidental , occasioned by the failure vinevards abroad . In the nine months of that year the " declared value of British spirits exported to France was 304 , 411 / . ; in the nine months of the present year it is only 4090 / . ^ without the least chance at present of being again revived . We may expect hereafter a continual increase of our trade , but it is not at present much enlarging its demands for discount accommodation .

    R*T*Wi7"≫ A Tp 'Ht! 1 ?Ppot?T Xxjuixjul&Jllj Xxkjzjjiu Jaxix Uava

    somewhat unfavourable . The greatest alteration « in that mercurial article 32 cop twist , which musi be sold , if at all , $ d . to $ d . per lb . lower than it could have been a week back . . Next in weakness are 4 tc 12 mule and water and 20 , and 30 water . Taking these several kinds along with such others . , of mule and water in bundles , warps , cops , and pincops , as constitute the great bulk of the production , the depreeiation maybe averaged at about jd . per Jb ., not more . The following statement of the actual decline from the highest not nominal but real prices , before the commencement of the present subsidence , has been published : —• In Noa . 4 to 12 mule , in bundles id . to fd . per lb . 4 to 12 water , in bundles ....... fd . to id . per lb . 20 to 30 water , in bundles fd . to £ d . per lb . 20 to 30 mule , in bundles ..., id . per lb . 40 mule , in bundles Id . per lb . fully . 16 to 24 and 23 warps id . to fd . per lb . 12 to 30 pincops id . to fd . per lb . 40 twofold ....... ; id . perlb . Goods have been affected in the same direction as yarns , though they do not perhaps show it in an equal degree . Among those which are best upheld are long cloths , T ' s , and certain other domestics , but in them the tendency of prices is unfavourable . The considerable purchases lately made in shirtings and other articles for India Lave not prevented their giving way ; as , compared witli a fortnight ago , we may state , for instance , that 40-inch shirtings have lost lid . to 3 d . per piece . The accounts from India , and also : from China , are good , and are inducing rather more transactions . That a dulness now of three weeks' duration must have caused some accumulations in first hands there can be no doubt . We feel satisfied , however , that they are comparatively inconsiderable , and producers are not even without orders in hand . We know that one great commission house holds a smaller stock of cloth than at any time for five years back .

    stances both of consumer and producer . That the Manchester trade will speedily rally may be inferred not only from several considerations of this character , but from the particular circumstances referred to below , and it wil lbe observed that , not withstanding the inactivity of the present demand , stocks are not really accumulating . In Yorkshire , the demand for woollen and worsted goods continues , and there is a good deal of briskness , tempered , however , by the firm price of wool . The most decided improvement we have this week to notice is in the hardware and

    iron trades . Not only is there an active foreign demand for our productions in these branches , but the home trade is extending , and the accounts uniformly lead us to expect further improvement . There is no doubt that these trades have been much depressed , and their present revival is , therefore , extremely gratifying ; but the publication of the mining statistics , collected by Mr . Itobert Hunt , keeper of mining records , induces us to think that the depression in the latter part of 1857 was somewhat exaggerated .

    The railway traffics , so far as they show the receipts from the conveyance of merchandise , are again favourable . On some of the lines connected with the north there is a marked improvement . They are beginning now to compare with the depressed period of last year ; but we attach more importance now to the weekly than to the annual comparisons , and in this respect they are becoming more and more satisfactory . The improvement is certainly very gradual , but it is sure and healthy . The Board of Trade returns for September confirm this view .

    The state of the money market is not particularly satisfactory to the capitalists' interests . They cannot lend their money in any amount at more than 2 per cent ., and even a t that rate there is little or no demand , while upon commercial bills 2 £ per cent , is considered a favourable price . The banks have this week been refusing deposits at call , and the discount houses are full . Money is thus lying : idle in large amounts . But prudent traders are not induced by this fact to enlarge their transactions upon borrowed capital ; they prefer , if trade extends , to increase their operations by their own legitimate resources . Under these circumstances , there has been a continuation of the demands upon the Bank . Directors

    London , Friday Evening . Although there is not the slightest degree of excitement in the general trade of the country , and although there is still a certain degree of quietness in particular branches , it is certain that a considerable expansion is being gradually developed . A reaction in the value of cotton , founded upon the character of the American advices , has been seized by the purchasers of yarns , and partially by the buyers of cloths , as a favourable opportunity to press spinners and manufacturers for concessions . To some extent this policy has succeeded , and it has naturally caused dulness in trade , for few—except those whose circumstances did not enable them to

    resist the pressure—have been disposed to yield . Nothing shows more clearly the skill and judgment with which the commerce of this country is carried on than the variations that have occurred in the Lancashire markets during the last two months . Trade there began to revive the moment there was a return of confidence , and the exhaustion of stocks created during and subsequent to the collapse , added to a simultaneous foreign demand , imparted much activity to the looms and frames of the district . The increased consumption of cotton was soon felt by the Liverpool and American holders , and prices consequently hardened if they did not substantially advance . In some descriptions , they absolutely " ran

    up . " Purchasers for all the continental markets thereupon abated thoir operations , though tho home trade remained steady , and they refused to commit themselves , except for immediate wants , solely upon the score of price . This atate of things lasted some time , but it did not , until about thrco weeks ngo , arrest tho progressive improvement in the demand . At last , however , it did , to some extent , cause a marked degree of quietness . Lot it bo understood that tho solo foundation for this calmness was tho maintenance of tho price of cotton in Liverpool . the is the

    Kow caso converse . There is again a tomporary period of calm and quiot , accompanied with some degree of complaint , but it is causod not by advancing but by receding prices of cotton . From this fact wo deduce a conclusion that tho existing dulness will be comparatively short . A rostriotcrt trade from advancing pricos is not unnatural—indeed , ic is a common incident in commercial pxporioiico—but , on tho other hand , falling prices ftcnorully oncourago consumption and increase transactions until tho lovol is found at which tho relation of demand and supply moots the

    clrounito reduce the rate of discount to 2 £ per cent ., r and some indignation has been expressed that they decline to be led by external intimidation . For this policy a valid defence is to be found in the fact that the continental demand for gold has absorbed all the supplies that have arrived in the present week , and that further amounts will follow both to Constantinople and Vienna , the former on account of the late loan , and the latter to pay the Austrian Government for the Lomb . trdo-Venetian Railway . The gold in the Bank of France is stated to have been

    considerably reduced by the last operation ; and from the returns of the Bank of England , published this evening , it appears that the stock of bullion has fallen off 144 , 084 ? ., leaving it at 19 , l , 'i 2 , 476 i ., against 19 , 276 , 5 GO / . last week . And according to the official return in this evening ' s Gazette , the export of specia in the week ending last Wednesday amounted to 499 , 8 ai / ., of which 396 , 055 / . was in gold , or 85 , 639 / . more than tho imports . In this state of things , and more especially with a prospect of the demand continuing , we see no ground for blaming the course adopted by the Directors .

    In Manchester , last Saturday , there was rather more firmness in yarns and cloths suited to the India trade , buyers having operated to a fair extent in 40-inch shirtings and in SO ' s and 40 * s mule yarn . Hard twists for the Mediterranean markets were also in rather more demand . In other goods tho market underwent little or no change . There was a . moderate business in domestics , long cloths , and T cloths , at rather lower rates , but tho comparative absence of demand for tho Levant affected tho weights and qualities taken for the Eastern markets unfavourably . Printing cloths steadier in value , but tho demand quiet . On Tuesday there was an unfavourable change in tho Knarket , in consoquonco of a decline in tho value of cotton in I « ivorpool , the American advices showing largo supplies and a

    disposition to part with thorn . In Liverpool , that day , thcro was a decline of 1 / 1 Od . per lb . upon the pricos of tho previous Friday , oxcopt for it fow of tho butter descriptions . Tho consequences in Manchester wore , on tho ono hand , an increase of that caution which has restrained tho action of tho buyors of yarns and goods for several wooks baclc , nnd , on tho other , a further weakening of confidence in prices among producers . Tho finer yarns above No . 80 , which arc relatively much cheaper than lowor counts , and which aro not aUboted by changes in American cotton , must bo oxeentod from tho preceding statoiuont . So Also must 40 ntulc , both ot tho comnfon and medium qualities , which aro sustained by tho recont purchases and tho continued demand for India . . But spinnings from Nos . GO to 80 , though not quoted lowor , are decidedly halting at the quotations ; and tho bias of 00 is at tiny raVu

    The cotton trade at Glasgow has followed the course of that at Manchester , but with somewhat of a firmer tone in goods . The cloth halls of -Leeds last Saturday were not very numerously attended , consequently the cloth cleared was less in quantity than has lately been usual . Prices , however , were unchanged . The inquiry was principally for seasonable articles , and for goods of a fancy character , distinguished by either beauty of fabric or superiority of finish . The warehouse trade has been steady , and for the season of the year satisfactory . There has been an average attendance of buyers in the town , and along with the orders that at this period generally come to hand a fair trade has been transacted in the

    warehouses . In the manufacturing localities the preparations for a large spring trade are proceeding , and are giving full employment to the mills and artisans . There has been a slight improvement in the demand for combing wool . On Tuesday the morning was so dull and gloomy , that it was next to impossible to discern the shades of colour in cloths , and the Coloured Hall was , consequently , only thinly attended . Still , though tho quantity of cloth that changed hands was not extensive , there was a good feeling in the trade , and the transactions arranged wore healthy and satisfactory . The atmosphere had somewhat brightened before the market hour in the White Hall , and as the examination of the goods in that place was not required to be so searching as in coloured articles , there was a . considerable improvement in the attendance of buyers as well as in the

    operations . A fair business was done in whites . As may be expected , pricos are not now likely to be affected until tho wool sales , commencing on the 4 th proximo , have mado some progress ; and any material alteration is not anticipated , inasmuch us tho wool then to be offered will not be in very large supply . The Bradford market is firm , and trade is unquestionably healthy . Considerable animation has prevailed in all branches . The demand for worstod yarns for the home trade is good , and where contracts have been made for tho ensuing month full terms have ' boon realised , Indeed , this brunch is buoyant . In worsted yarns for export there is some abatement in tho demand , and quotations are a shade lower ; and in cotton yarns there is some idulness . But for goods the purchases are equal to a full averago ; stock ** are not accumulating ; and tho manufacturers aro well engaged with orders .

    Tho worstod trade of Halifax has not materially varied this week . For wools , yarns , and pieces , prices remain very firm , nnd . nn upward tendency has boon manifested . In Huddersllold there is no change . Stocks nro small , and prices firm . Tho domnnd for'fancy coatings , now styles in fancy trouserings , nnd uooNou and Bedford cords , continues brisk , mid I / u'tf o rjmintitlos of these goods aro now being regularly nuinufacturod , and re-ndily sold . PJnln ««» ' » l" « « and mixturo doeskins and Hiiperlliiee aro somewhat slow of sale , tho country trade euiitliiulntf in an unusually quiot and dopreasod state , blocks on hand In the Cloth-hall aro xxot , however , very largo ior tho

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    i » ¦ . GENERAL TRADE REPORT .

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    No . MA October 30 , tsss . I THE I , E A 33 B It . 1169

• Citation
  • Leader (1850-1860), Oct. 30, 1858, page 1169, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2266/page/25/