After remaining steady the whole month, yarn on the local Exchange has risen about Tls. 2 to Tls. 2b a bale during this week.
There has been some talk to the effect that certain mills will prot ably be forced to go on short time Before very long, and this, coupled with a certain demand, particularly from the south, for yarn, is responsible for the advance.
Cotton also is much stronger, having closed about TI. 1 per picul higher on the week. This is said to be caused by decreasing stocks in Shanghai and the absence of large arrivals from Hankow.
There has been a fairly heavy demand for cloth for June/July/ August delivery at unchanged rates.
In their weekly report Messrs. J. Spunt & Ca. state:—China Cotton.—Our market during the early part of the week maintained a steady undertone, developing into a strong market during the latter part of the week and evolving at the close on the whole an elevation of Tls. 1 per picul higher than the level last current. The principal factors underlying the local situation. were:—(1) The considerable slump in the silver market; (2) the better demand in the local growth on the It is hoped that after the Festival] there will be a better demand. The big operators have attempted to advance local selling prices but with-Jout success, due to the continued selling by dealers of new arrivals} bought on good exchange, they] taking little or no profit on the transactions,
Text read from the printed page and cleaned; old type leaves the occasional error.