Manchester, Mar. 24.
Although the price of American cotton continues to fluctuate and is easily influenced in one direction or the other, the tendency during the past few days has been towards an improvement, and the week closes with both spot and futures a few points higher. The trade has purchased more freely and new crop news is not so satisfactory as it might be. The Census Bureau's final estimate of the 1921-2 crop is 7,977,000 bales, or about what was expected, and had no effect upon the market. The future course of prices will depend entirely upon the prospects of the next crop, but it is mud o early to form any reliable ion. Reports from oF 3 Alexandria do not indicate any change in the position of Egyptian cotton.
The yarn market is beginning to show more animation, and, although prices continue poor, the demand is broadening and, in some cases, spinners of American yarns have been able to advance their rates. Owing to the very low prices recently accepted for piece goods, our own manufacturers are not able to give much assistance to spinners, but the fact that production is moving off better has strengthened the position all round. The increasing attention which is being given to beams and cop twist shows that more looms are getting to work, whatever the result may are not yet in special favour and, although prices keep steady and in some cases are rather stiffer, the trade at present is rather slow.
The basis of cloth inquiry appears to be steadily broadening and, in consequence, the whole tone of the market is' healthier. India leads the way with dhooties, grey goods and lighter fabrics and, although offers donot improve much, many makers are stiffening their backs, and large concessions, such as buyers have of late been able to obtain, are now no longer available. This is the feature of the market rather than any very marked advance in prices. The consuming markets naturally feeb this better tone and are by slow degrees responding, but there is no attempt so far to rush prices up by any wild buying. There is. inqury galore, but buyers are cautious, and fight against every small advance.
Silk Sbipment 5 Silk shipped by the RMS. Kmpress of Russia from Shanghat on April 23, arrived at New York on May 12.
Text read from the printed page and cleaned; old type leaves the occasional error.