Messrs. Spunt & Rosenfeld's weekly cotton market report, dated March 30 will say:
Since the issue of our circular last week our market was a dull and practically no business of importance has been recorded. Consequently prices have dropped from four to eight mace per picul at the close. The rapid rise in the price of silver has given great cause for apprehension to dealers of China cotton, the Indian market being niore within reach than heretofore and prices of some of the Indian grades working cheaper when on 2 parity with local staples. What with the shortage of the China crop generally, a good demand will no to doubt spring up for Indian Cotton in the near future anda few mills are reported to have already made heavy purchases of Indiai grades, by way of guarding against any contingencies arising locally.
Owing io ligh prices ruling last week arrivals of native cotton improved somewhat, but owing to the ness in trade same has now again diminished to very small proportions. The general situation therefore hinges on the result of the political situation in the south, as well as on the situation of the liver market, and while a cessaboth the cotton and yam markets, the rise in silver is militating against same. With such heavy problems at issue the situation must necessarily be gauged on its own merits from day to day.
Tone of the market, weak.
Text read from the printed page and cleaned; old type leaves the occasional error.