A dull week has again tobe reported, but there are signs that the phase through which we are pass-ang is merely temporary, For a few weeks lately prices showed a distinct upward trend, and, although private business was practically non-existent, there was a rush to purchase at the auctions. Last week a reaction set in, and it still continues. This, however, is not surprising, and so far as the auctions are concerned we ought to see a revival very shortly. As matter of fact demand varies so nich from day to day that a renewal of buying might occur at any moment.
The market may be described as a distinctly unwilling one, and because of the activity of Japanese merchants every reason exists for a weakening of quotations. The Japanese are believed to be forcing sales irrespective of prices, and consequently in Greys and Whites the tendency has been for rates to fall. This was particularly marked at the beginning of the week, but at the concluding auction there was_a distinct change for the better. Undoubtedly a large stock of goods is on hand in Japan, and only recently have financial facilities been available for moving them. Now that this is taking) place and in view of the scarcity of money in Japan. we are witnessing something akin to dumping on the local market. The warning of the boycott, of course, makes this possible. At the same time it is generally believed that this is a phase which cannot be of long duration, and we shall see a healthier market shortly, especially as the Japanese spinners are on short time. Tu the meantime it. is no ticed that Szechuan is not buying. which means another weak feature in the market. ce rear Latterly it was believed that some of the English manufacturers whose orders were running out would be prepared to offer reduc. tions for fresh business. Recent information. however. denotes a strong inquiry from India on ae. count of the good conditions creat. ed by the monsoon, and although it is doubtful whether much business as vet been concluded it has the effect of stiffening the manufacturers' ideas.
During the week clearances have on the whole been good.
An, interesting feature of the week's doings was the opening of an indent department by Messrs. Maitland & Ca. This is a big break-away from the tradition of Yuenfong, and naturally it was a matter of much interest to Chinese dealers. The indent department, which is situated at the rear of the building, is under the charge of Mr. P. Enticknap, and in the course of yesterday' morning, assisted by Messrs. Wells, Downie and Cabinet, he entertained a large number of Chinese who were pre sent to inaugurate the venture.
Text read from the printed page and cleaned; old type leaves the occasional error.