On the local Cotton Exchange, yarn is week, while cotton is stronger.
Very. little business. has! been reported, except for the sale of 10's yarn, Clearances from the illls have been disappointing.
Tr their weekly report, Messrs. Spunt & Ca, state:—
China, Cotton:—Our "market during the past week my be described jas having been very quiet, nevertheless prices on the whole' continued jin a steady direction with a firm' tendency at the close.
Owing to dullness in the yarn trade there has. been very little demand for the local staple, the mills being fairly well] supplied with stocks of I Cotton to meet their requirements for! some time. However, holders of superior grades of the domestic growth are firm, being encouraged in their attitude by reason of the current depreciation in the silver Fate andthe steadiness in the and Indian markets, factors tending to deter importations the foreign fre. Wei tions forthe domestic Jerop are #0 far favourable and while it fs too early to indicate even approximately the outturn of the acre-planted to cotton, yet the pros-difficult owing to the uncertain con Jditions in the interior, and deliveries are very slow, while the drop in exchange makes business all the harder to transact.
During June and July very small shipments are expected from Java to Shanghai,
Text read from the printed page and cleaned; old type leaves the occasional error.