Jan. 21.
In view of the proximity of China New Year, business is necessarily of small dimensions. The piece goods auctions have come to an end! for the time being, but it is satisfactory to note that clearances have been of good volume throughout the week, indicating the need of cargo in the interior. The opening of the market after the settlement' promises well. No change is reported in the export trade, there being little beyond some quantities of raw furs, goatskins and feathers. The stocks of silk in Shanghai are practically at an end, but the outlook for the future of this commodity is excellent. During the week under review there has been little business in either raw cotton or local yarn.
Opinion is to the effect that the China New Year settlement will be successful negotiated, for there is ample money in the place and native interest is very low. At present it is quoted at 03, whereas a year ago it was 07 and_ before the New Year it rose as high as 16. That the situation is easy is evidenced by the fact that there is a total absence of the panic selling which characterizes the approach of the settlement in times when a scarcity of money is the rule.
Text read from the printed page and cleaned; old type leaves the occasional error.