The piece goods market has been quiet and featureless throughout the week, and there has been little talk of forward trade maturing, A quiet trade is going on in certain articles, but nothing to warrant much optimism. 'There has. been more indication' this week of the: market torning from Greys and Whites to Fancies, and one or two lines of Blacks have been placed with Manchester at about five per cent. below the prices ruling in January. Tt hag to be noted that the statistical position of Blacks is much sounder than it was a year ago, but there is, nothing much in new orders for the importer except gamble for his commission, and orders have been placed principally with the idea of keeping particular chops moving.
At the Kungping auction on Tuesday a alight easing in prices was not readily explicable, and in 30 way did it represent the real sentiment of the market. Possibly it was due to buying orders being. confined to fewer hands, but as a. matter of fact that small quantity fon offer found ready buyers to feed the actual trade demand.
On the other hand the Yuenfong auction showed more liveliness, and dealers seemed to be getting down to a useful speculation in Blacks, vith the resalt that Venetians were 14 mace higher and Italians 1 mace up. Velvets were also stronger, and the past week has seen a. mitch improved offtake of these goods, although so far no revival has been seen of the late demand from Yunnan. For Venetians the demand was chiefly from the local markets, Tientsin and Hankow, while Italians were supported by local demand, with Ningpo showing a greater number of orders hand, and with Kiukiang and Anking also operating. So far Chinkiang has not done very much, but it is anticipated that following the break-up of the drought there will be a better demand coming! from there soon., The auction showed that Greys and White ex were dropping out, although Greys were only 13 mace lower and Whites only slightly on the easy the River port _qualit trove ditty' weaker, bat there were signs of speculative buying on behalf of Korea apparently on the strength of prospects of more activity when the present grass cloth. season is concluded. " Deli have been better, the principal feature being the improved offtake of Black Ttalians.
Cotton Yarn, Ete, On the local Cotton Exchange yarn has advanced about Tis, 4 per bale during the week, while cotton is rather lower for near delivery and about the same price as before for forward. American cotton has moved very little, although the immediate effect of the Government Jcotton acreage announcement was to put up the market slightly, most people thinking that it would be a bearish report.
There has been an active demand) for yarn, and those mills that have Jcargo have been selling. Clearances from the mills are improving, and the outlook at the woment Cloth still continues la active In their weekly report Messrs. Spunt & Go. state: prevailing during the previous po The mills appear to be provided with faficlency of foreign stocks tp" cover their outputs for deliver ion two months hence. or" thereabouts, which circum Stance places them in 'a position to walt further new crop developments, In these circumstances it is, therefore, extremely dificult to foretell with any certainty the trend of the market for the near fature as such will dep demand that may, onthe part Spinners and. Jay swell as on the di ly crop reports bath Ching. which wil be. weather ep.
Yarn—Since. the issue' of our last four market has experienced advance of Tit, 8.19 Tis. from. the previous Jevel due to, shorts covering, being influenced. by the expectant further Improved demand from Exporters, engendered by the present wore. peaceful pol pect in the onirfs Busing for expars hat been Booked some. 10,000 to 11,000 bales in all counts during the week under review.
Text read from the printed page and cleaned; old type leaves the occasional error.