As already announced a strong local syndicate had been formed with the object of securing the business of the Shanghai Cotton Manufacturing Ca., Ld, To-day interest is general in the ultimate fate of the company, for competition promises to be of the keenest description.
Naturally the Mitsui Bussan Kaisha will, in the event of the. company being wound up as is proposed in the resolution to be presented to the forthcoming meeting, make every effort to retain it. This was, of course, only to be anticipated, but we believe that another Japanese syndicate is also taking active steps with a view to purchasing the concern. This last is said to be a powerful combination.
In the event of the resolution for the winding up of the company being carried, we understand that nob only will it be advertised for sale in China but likewise in Japan. There, it is believed, a number of the larger cotton concerns are likely to be very much interested in the matter.
Panama, March 24.
The Panama Canal was again closed to shipping two days ago owing to a fresh land slide at Cucaracha,—Reuter Tue Japanese Cotton Spinners' Association reports that during February the production of cotton yarn amounted to 166,969 bales, an increase of 10,341 bales over January this year and of 20,192 bales over Febriary last year, The increise was mainly in finer yarns, exceeding No, 20.
Text read from the printed page and cleaned; old type leaves the occasional error.