Our market during the past week has been rather active and the good demand for spot cotton that arose! on the part of Japanese and Chinese mills evolved a steadiness! in prices which culminated at the close in a firm tendency bordering} on further advances. "While the cause for such a situation may be ascribed to the continued steadiness {in the American and the firmness la the Indian markets coupled with the easier rates of exchange, there emerges a factor more potent in {influencing the appreciation of the local staple and which, as time passes, becomes more and more convincing as to the shortage la this year's China crop being established fact. The yarn market remains more oF less in a dormant position and whatever little appreciation that is being experienced in this direction ig hardly commensurate with that manifested in the raw material. The receipts from the interior mavts have shown no augmentation in that stocks are being: withheld with a view to Dotter prospects for its disposal being soon. materialized. The transportation facilities in the river country is very much restric:- ed by reason of the frozen state of the water ways ang furthermore? by reason of the Hankow Merchants having temporarily closed thole buying hongs, they being unwilling to expose their cash remittance passing through unpeaceful sections to the interior, particularly at a approaching the! Year Settlement wer little stocks ar} left in the hands of holders appear. to be well supported financially 30 that no keenness is visible to dispose of same -even at current rates. Consequently having the foregoing in view it would appear advisable for consumers to take in necessary supplies on any slight! reaction as any little improvement in the yarn trade would stimulate a further advance in the raw! material.
Text read from the printed page and cleaned; old type leaves the occasional error.