In their weekly report issuer? yesterday Messrs. A. B. Rosenfeld Son state China Cotton—Since our last report was written, our market has had a distinctly weak appearance and prices were carried down about' two taels from the level of a week ago, and notwithstanding the profit-taking by those who had been engaged on the bull sile, the market showed very little resisting power and no rally of consequence has been experienced so far.
The most significant feature of the situation was the sudden weakening of the yarn market in consequence of a general withdrawal by spinners and tightness of the money market, in spite of the fact that the movement of cotton was hardly enough to cause any serious pressure.
Tu summing up the situation regarding stocks by local mills and scant receipts from the interior marts, we still consider a higher level of prices warranted.
Yarn,—During the past week the yarn market has had a generally downward tendency, showing at one time gross decline of two to three taels,, making a total decline of seven to eight taels during the week, due to. the Japanese hedge selling and tightness the money market. Some 4,000 to 5,000 bales have changed hands between, dealers for exports and over 2.000 bales direct booking with the mills has been recorded.
Messrs. J. Spunt & Ca. state China Cotton.—Though our market during the past week has witnessed some slight reactions, on the whole, however, an advance of "about is." 0.50 per picul, higher than that last reported may be recorded at the close. Had it not been for the stringency now prices on the focal staple would have being experienced in the money market, evinced a still firmer tendency. The inherent strength in the raw cotton situation appears in no way to have been affected by the monetary @ressure now being brought to bear' the holders of stocks by their financial sup-
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