Prices for Chinese cotton have been on the weak side, owing to there being a scarcity of buyers. Although the mills are slightly better equipped with orders, these are not sufficient to induce "any considerable purchases of the staple.
Yarn prices have ruled firm during the whole of the week, and good business has materialized from Southern ports. At the same time the northern markets appeared a: buyers of small quantities of yarn.
Cloth has been moving in somewhat improved quantities. In their weekly report on the market Messrs. J. Spunt & Ca, states—China Cotton:—Our market during the past week has been rather yreless with a general feeling of discouragement among those who have been looking forward to higher prices, in that due to Japanese firms effecting fair sales of Broach cotton at very moderate rates and the continued weakness now being experienced in American market, the local bullish sentiment became considerably modified. Mill takings of domestic growth are almost negligible, while offerings are plentiful and consequently prices have registered a decline of about three to four mace per picul for old crop cotton, On the other hand prices for new crop deliveries appreciated some two to three mace by reason of unfavourable weather conditions during the latter part of the week and also by reason of the fact that local Japanese mills contracted purchases of some 3000 bales of mew season Shensi cotton prices ranging between Tls. 33.75 and Tls. 35.25. Chinese owned mills fare not contemplating making any commitments at the present time for the new season staple as they anticipate lower rates taking into consideration that the weather con-0 far been favourable both for the domestic as well as the American crop.
:—The yarn market has]
brighter aspect during the week under review though Business transacted was not voluminous as to warrant any extreme advances. Prices firmed up about one to two taels for forward deliveries with a feeling of further appreciation being experienced in the not very distant future when the usual autumn sale" business will start and at which time a considerable turnover may be expected.
the Chinese mills are still keeping big stocks of 16's and 20's, it is reported that the Japanese mills have sold out their products for October/November deliveries.
Text read from the printed page and cleaned; old type leaves the occasional error.