Between different sections of the Piece goods market a marked dif-Terence of opinion is observable this wei it is noted that a fair amount of stuff is going up-country, but on the one hand a doubt is ex pressed as to whether this is actually going into consumption The suggestion is that prices are too dear to permit of purchases by the actual consumers, and we have already noted a complaint from up-country with reference to these rates. Against this view there is the belief that the stuff would not be taken up-country unless conditions were favourable, so it is difficult to decide how far the fears quoted above are being realized.
With reference to prices, it may be mentioned that the forward rates for at least one chop of Venetians approximate to quotations for silk, and naturally the Chinese prefer to purchase silk. The particular chop to which reference is made is selling as high as Tls. 1.30, in comparison with a pre-war rate of Tls. 0.40, and that at an exchange of 2/8 or so. In the meantime Manchester talks about no reduction in prices taking place for tw> years to come. This may be aa exaggerated estimate of the orders in hand, but may be fulfilled unless there is an exceptionally large crop of cotton next year.
In the local market there has been very much doing this week, partially as a result of the Customs holiday. A temporary lull is apparent, for owing to lower exchange rates dealers are insisting on higher prices for fresh sales. and in the meantime merchants are disinclined to buy. The market is consequently rather flat, but prices are not down. Fancies may possibly become weaker, but Greys are expected to strengthen during the next week or two. Looking ahead for future delivery, auction prices may receive better support. In the meantime a spell of wet weather in the North has hindered clearances there. and from that onarter ther> were fewer orders in the hands of dealers.
Text read from the printed page and cleaned; old type leaves the occasional error.