Tue season under review has been an unfortunate one for all Silk shippers; but though the losses have not equalled those of the previous season, the disappointment has been greater. The market opened on the 5th June at a parity of 26s. Gd. for best chop (0. 3 Tsatlee, and 21s. 3d. for "Red Peacock," against telegraphic London values of 25s. 6d, and 203. 9d. a 21s. Od. per Ib. reseclively, and it appeared probable that the home markets would advance sufficiently to allow these apparently cheap cost Silks to sold at a profit. It is needless to remark that this much-to-be-desired result was not realized; on the contrary, the sales of early arrivals of New, Season's Tsatlees were made in London, showing losses varying from 1s. 6d. a 2s. 6d. per Ib., and in some cases even more. One arrange feature of this year's business lias been the good deliveries in London at higher prices when money was Acarest,—as discount declined, so have the quotations for Silk, until we have reached a lower scale of rates than has been seen. for many years past, It is true one or tio fictitious spurts have taken place when a slight advance in prices was reported, but they were of very short duration, and the sales made during their existence show the reported improvements to have been more imaginary than real.
As mentioned above, the season of 1873-1874 was opened on the 5th June, with an estimate of 65,000 bales available for export, and during the month about 5,000 bales were shipped. The chief demand was for Silks bearing chop papers, market grades being neglected though comparatively cheaper, and often superior in quality. Adverse advices from Europe checked puxchases during the latter part of the month, and prices were weak at a decline of about 6d. a 1s. Gd. per Ib.; best chop 3 being quoted 25s, 6d., and Red Peacock 20s. 9d. per lb. For the American requirements, 100 bales were settled, chiefly classic Tsatlee, and best chop. Kashing Taysaams; at Tls. 515 a 520 per picul for "Tso Ping's" and "Dragon" No. 2; Tls. 495 for Dragon No. 3 Tsatlee; Tis, 440 per picul for "Chin-yuen-sing's" chop No, 1 Kashing Taysaam; and Tls. 500 per picul for a stall parcel of Tso Ping's" Van-yuen" re-reeled Isatlee.
Text read from the printed page and cleaned; old type leaves the occasional error.