There was a declining market at the three auctions of the week; the decline affecting all lines. For American goods there is some demand, but stocks are low and with no probability of any fresh cargoes arriving on account of the lack of ships. A recent telegraphed quotation from New York re-
879 ports that grey shirtings are advanced @ shilling since January, American greys now being more on 2 parity with the English article. The demand in America, however, is such that the manufacturers are not anxious to export. From the fact that the quotation mentioned was wired without inquiry it might be assumed that there may be some possibility of cargo space offering.
Kungping:—At this auction on Tueeday the market was dead. There was a lot of talk among the buyers, but little else, and the slowness was ascribed to the political uncertainty. Prices general ly were down on all lines, the only features that could be described as even fairly steady being white stirrings and_velvets.
Ewo:—Of Jardine's auction Wednesday, the same remarks apply, the market being dull and weak.
Yuenfong:—The market was also upset at this auction on Thursday. There was lees talk than at the earlier auctions and more business was done, though at lower prices. Italiahs were down 3} mace, greys 2 mace down, whites 1} mace down. Quantities offered, 884 packages, which was about 100 more than last week.
Yarn, During the early part of this week prices kept up on a Jevel with those ruling last week, and about 1,000 bales were sold. The advance in exchange, and the supposed like-li hood of its being maintained,, has induced buyers to buy for forward delivery at rupee prices and some 2,000 to 3,000 bales are reported to have been sold. Towards the close the market has become flat for political reasons, and this is causing much uneasiness among dealers, who are consequently not operating freely. Prices are nominally about a tael lower than last week, but there ie no market, spot being at a standstill.
The Bombay market, however, remains steady, though nob so firm on account of the weak state of Indian cotton.
Osaka Sampin quotations, received yesterday by Messrs. Tata, are (in Yen): March 129.70, April 129.70, May 199.60, June 129.60, July 130.50, August 131.50.
Cotton.
The local cotton market this week was quiet after the greater activity of last week, although at the close an easier feeling prevails and tthe tone ie Some 10,000 picul bales reported sold. Tungchow Tls. 25.90 to Tls. 25.40, Shanghai ginned Tls. 24, Ningpo Tls. 22.50 to Tls. 22.80.
There has been steady advance in the Home cotton markets, but the closing is somewhat weak in tendency. New York quotes May 11.89 cents, as compared with 11.99 cents a week ago. Thurs-
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