During the past week which was curtailed by the New Year Holi days, very little business was transacted cither on a speculative or legitimate basis, report Messrs. G. Spunt & Ca. Prices, however, on the local staple continued in a steady position and toward the close certain firmness was experienced which may be said to be engendered not so much by the pressing demand on the part of the domestic spinners as by reason of the! following potent factors, namely light receipts from the' interior, brighter prospects in the yarn situation and the continued steadiness in both American and Indian markets coupled with the gradually weakening tendency in the exchange rates, And as such factors preclude at the moment a large influx of the foreign fibre, the domestic staple assumes a more prominent. position and may be cOnsidered more attractive for domestic consumption and should be availed of at all times for immediate and future requirements, as in the long run, viewing the situation generally such outlays will eventually prove remunerative. There is no. change to report in the position of the local yarn market, as prices ruling are nearly the same as last Business for export has been limited owing to the holidays intervening. Regarding the future course of the market, a conservative policy appears to be desirable for the immediate future, and the situation Jcontinues to hinge on the action of the local professional "operators, and in our opinion, we believe th purchases on. breaks are likely to lead to profitable results.
Tongehow, & m7 a Ningpo, Spot ex-whart 32.00 angehow, Spot ex-mi
Shana "Spot ex mill 37 Shens! No. 2, Spot ex-mill 36.00 Shensi Ordinary, Spot ex-mill 35.00
Silk There was again only a very quiet market, with just a few occasional transactions. The Lyons and American markets remained closed owing to the Christmas and New Year holidays. Shanghai prices, were a little weak and showed no substantial gains, but it is hoped that the next week or so will bring some business, with the change in the local situation,
Text read from the printed page and cleaned; old type leaves the occasional error.