The continued absence of business in cottons for the great Eastern and Far Eastern markets admits of a simple explanation, says the "Times" trade supplement, Whatever may have been felt about this matter in the past, it is abundantly clear now that these outlets are waiting for lower prices. They hold steadily to the view that Manchester can come down much below the present reduced range of selling prices, and that the want of business will surely bring about the desired decline. Importers and dealers in Calcutta and Bombay have been discouraged by the low exchange which has ruled, while importers in Shanghai have been brought to a state of semi-panic by the drop in the tael. The numerous requests from China for cancellation of existing _contracts are simply evidence of the
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