The Chinese cotton yarn exchange is still closed. "It is reported that some members of the Nanking government are endeavouring to effect some sort of settlement be tween the members of the exchange to enable it to re-open. Whether this attempt will meet with mor success than those of the busines men to reach a basis for agreement remains to be seen, Clearances from the mills are very poor, and as a result of the lifting of the Japanese boycott pricey, for Yarns are lower while Cotton prices have declined slightly lao and very little business appears to have been transacted during the week. "American Cotton is up some 40 points and the trade is awaiting with much interest the first American Government report of the, Probable production which is due to be ton on August 8 The new taxation on mill products which will in fature be the same as that on imported goods is causing mill owners no little concern, The excise duty on a bale of 20's Yarn well be in" creased by no less than 680 per cent. while on a bale of Cotton in some {instances the increase is almost 900 er cent.
Text read from the printed page and cleaned; old type leaves the occasional error.