Mr. A. B, Rosenfeld's weekly circular, dated February 9%, says:—China Cotton—Since my last report was issued the cotton trade has witnessed @ succession of firm markets, which is due in a large measure to the attitude of the farmers who are reluctant to part with their cotton, being firm in their ideas of seeing higher prices. The shortage in: this season's crop, together with the above mentioned reason, have no doubt brought about a moderate revival of bull speculation on the part of the outside public. Even at this new level "of prices sentiment continues bullish in the main, and the belief in a further advance is confidently expressed by many.
It cannot be denied that the amount of cotton which the trade seems willing to absorb has prevented any pressure of spot cotton locally, but in considering this demand in relation to consumption, it should not be overlooked that a fair share of the mills' requirements has undoubtedly been filled by pu chases from India and Hankow di tricts, and while a large number of mills are yet to be supplied with cotton for the latter months of the season the stoppage of night work by some of our friends will doubtless relieve the pressure for cotton to certain extent, the circumstances therefore I would advise taking advantage of any weakness by buying desirable lots to cover futures. Tone of the market: Steady to firm.
Text read from the printed page and cleaned; old type leaves the occasional error.