Although not much business is doing and only a little inquiry, reports generally agree that the tone of the market is more confident. The decision of the British Chamber of Commerce that the sanctity of contracts is not lightly to be disregarded has had a sober- We ing effect on dealers. Those of the best class are said actually to welcome the decision as establishing business pon 2 sound footing once more. It is an unfortunate fact that severe losses have to be faced in many quarters, and Chinese circles report further failures during the week, but these are among the people of small capital and new to the trade. It seems to be generally anticipated that as soon as more settled conditions are seen in the interior there may be a resumption of business. Here we have to point out that price ideas on the part of consumers must come more into Tine with Home figures if the light or depleted stocks at present on hand are to be replaced.
While affairs in Hunan, which is a valuable market, are more or less quiet since the exit of the Northern troops, all demand fro that quarter is still out off. Chi ese bankers are not as yet ready to give the credits necessary to allow cargo to be moved to Changsha, and accordingly business at the auctions on the part of thi Changsha dealers has been til.
Text read from the printed page and cleaned; old type leaves the occasional error.