Financial and other troubles ped in the bud what previously had the appearance of being quite a useful trade, Dealers recently have not been able to increase figures, but they have sold at steady prices and then during this week they found themselves whether the sales they be cleared. There sas been very little forward quiry anywhere. Manchester has strengthened again coincident with more Indian inquiry.
Cotton, Yarn, ete.
China Cotton—Again a week has passed with very little serious business reported, though x deal of wild specul has been apparent and on occasions there have been wide fluctuations. The market is weak in consequence of the political and financial troubles. Tungchow yesterday was quoted:—August, 50.10; September, 44.15; October, 41.95; November, 40.85; December, 40.05; January, 39.65.
Imperial Bank of India was reduced on the Srd inst. from 6 to.
5 per cent.
are officially. informed that the law fixing the unit of the gold standard currency was passed by. the Esthonian Parliament on the 20th ultimo. This law lays down' that the unit of the gold standard currency system of the Esthonian Republic is to be a Crown ("kroon") containing 0.403226 grammes of fine gold, which, calculated at the present price of gold (95s. 2d.) is equal to 1s. 2.8. At the pre-war gold price (84s. 10d.) this unit would be worth about 1s. 1.2d.
July 16—The Bank of England gold reserve against its note issue on the 9th Wednesday. A fair amount of gold has been on offer this week, but only.a small proportion was taken on Indian account. Gold: valued at $4,000,000 has been. received in New York from London.
Yarn—As with cotton, the yarn market also has been weak throughout. Prices have declined as much as Tis, 12 and Tls. 14.
Yesterday's closing quotations the Chinese Cotton Goods Exchange were:—August, 175.90; September, 173; October, 168.70; November, 164.80; December, 163; January, 162.90.
Text read from the printed page and cleaned; old type leaves the occasional error.