(Continued.
Imports. Grey Shirtings—The early part of the year was characterised by the customary Northern demand, and the 33 speculation in anticipation thereof; during which, and influenced also by better news from the River ports and a weakening sterling exchange, there was a gradual advance in the value of every kind of 8}-Ibs. cloth from Tls. 1.81 a 1.94 per piece at the close of 1872 to Tis, 1.95 @ 2.02 on 26th February. The first Northern steamers left shortly, afterwards, and then a Inll followed. Extreme quietness succeeded the opening activity, and with only two or three breaks—when something like excitement ruled—tho market continued in a lifeless state during the next six months. Business so to speak had to be forced inducements had to be held out to buyers; andas if matters were nob alrendy bad enough, Mildews began to accumulate, and the risk of keeping them was so great that holders wore very glad to realise them at any price. To add to the misfortunes of the foreign merchant too, there was first a scarcity of water in the northern canals, and then the floods. Afterwards we had prolonged drought in our own immediate neighbourhood; money was scarce and dear with us; ow recoipta were heavier than our deliveries, and everything went against the importer of Grey Shirtings.
And yet, in the face of so many impediments, and throughout the whole of this period of depression, the weekly clearances of all weights were far oftener over than under 100,000 pieces. The early steamers had scarcely gone, however, when rates dropped to the opening level for common, and below that for Dewhurst's and other crack chops: Nor did they rise much over it until mid-September, when diminishing supplies and the unexpected demand from Japan strengthened holders and placed them on a more satisfactory footing. With such a trade passing, it seems strange that prices were kept so low during the latter part of the year. Stocks were heavy certainly, at the commencement, but not so heavy at any time as to cause any serious apprehensions to importers; and there is little doubt, had they been confident in the preserving qualities of much of their wares, they would have been able to secure far better results. A few could boast of untainted goods, bub even they- were powerless to sustain the market against those who were less fortunate, and whose most pressing interest it was to rid themselves of Mildew. Then sized and waz-finished cloths arrived in quantity, and were readily sold to the trade at paying rates to the importers and these descriptions acted power-folly against the dealers in honest
Text read from the printed page and cleaned; old type leaves the occasional error.