The season now ending has been an unsatisfactory ove and whilst Insxes have not been as severe as they were in 1903-1904, they have been in some cases considerable.
The crop; roved to e slightly less than that of 1903-4 there being a falling off in White, Yellow and Wild Silks and slight increase in Steam Filatures.
STEAM FIL \TURES.—Thore was " considerable stock of cocoons carried over from the proceeding season and on this severe losses mus' lave been mad": Owners of Steam Filatures appear to enj -y " larger measure wf cheerfulness than is vouchsafed to the ordinary mortal, or else there mus' be " peculiar fascination in the actual purchasing of cocoons, as despite the enormous losses incurred in 1903-4 -nd_the prospects of the market in May last year being anything but encouraging, they went ahead and gaily bought Cocoons in Shaoshing and Woosie the average cost of which meant Tls. 760 ut least for Steam Filatures 1, 2 and 3, the result of the season's operations is thateeveral Filatures are shut down and some have reduced their capacity. "The quality of a large proportion of thix season's leaves a great del to be desired. A very important factor has been the greatly increased Export from Japan plished by the adoption of scientific methods of serigaltore, but the Chinese adhere rigidly to "oe custom " and seem the rapid grow h of the Silke Industry of that country should serve as an example to the Chinese of what can be accom-content to leave matters entirely to chance.
The relatively high Tael prices which th" lower basis of Exchange has enabled Exporters to pay during the past few years thas anforensately prevented producers realizing to the fall the monetary lowe which otherwise the falling off in the crops would have resulted in RAW SILK.—Tho market opened very quietly on the basis of Tls. 525 for Gold Kiling anil we had " dragging market until the third week in July when the Chinese secured Tls. 575 for the above chop a price which was not maintain by the end of Auzust Tls. 545 was recorded at which figare a considerable business transpired—six weeks Inter volume of business was xgaln heavy and on the basis of is. 550 some 2,500 bales of Tsatlers changed hands; by the end of November is 570 was reached but a reaction thu set in and after waiting about six or seven weeks Buyers secured Guld King Ki ing at Ti igo lis been maintained with but small flactuati+ns to the present time. YELLOW SILKS—Have "uth Mienyang has highest price was paid in November when best cho; Grant sel touched T... 750 fo- Ex*ra but sin-e then prices have declined Tls. 40-50 per picul, CROP PROSPEU (S.—Owing to the wet and cold weather experi April and the beginning of this month, the Crop will bs Into, but unless any unfavourable condition should arise we los for as large crop ax lant voar's or a trifle bigger. The Shaoshing cocoon market has been opened and the prices paid would maxct the cost of Steam Filstures abou Tix. 760 for 1, Zand 3, " fig which shows a considerable amount wf confidence in the po-ition of the Silk industry; time alone can show if is well played.
The following table ylvos approximately the value on th home markets during the soxson:—
Text read from the printed page and cleaned; old type leaves the occasional error.