There is no doubt that a prosperous year in respect of 1925 would have been recorded so far as the Shanghai silk market is concerned, but for one feature—the drop in the franc. Only this has prevented a steady offtake, for goneral-Jy speaking most months have shown the consuming centres in Europe fully interested, while America has frequent ly been an active buyer.
Althouyh the position at the end of had been uncertain, there was a in January, and if prices showed little change, any alteration was in an upward direction. It was reported that a healthy position was the case in New Tork, and this w: there, ent. stocks had been ed, and their presence tended to depress the market, This feature in conjimetion with political complications, the interruption of communications and the China Now Year settlement, did not help trade. For some weeks, however, New York did considerable business: with China, but otherwise transaction: were on a small seal mained to all intents end purposes unchanged. By the end of February, however, a shortage of supplies made itself felt locally, due to the political conditions, and dealers in satlees and Steam filatures became firm holders. It was not, however, until the new season's crop came to be dealt in that fresh activity was shown, Prior to the first transactions in it, the demand from foreign markets for silk had become of very small dimensions.
Text read from the printed page and cleaned; old type leaves the occasional error.