No new business with Manchester has, been consummated during, the week, and local interest hi Soseh apparetigy to, whnterer purchases could be made from stock.
While within the past few weeks the local market price may be said to have risen ten er in some cases. 15 per cent, it will have to advance a further ten per cent. before it can meet Home prices, and it is a question whether dealers will pay such an increase.
Dealers who have been able to obtain cargo are shipping it as fast as possible to the Yangtze ports and Ningpo, as they fear that the new local duties to be imposed in these places will prove to be higher than likin, It is believed that a considerable quantity of Japanese cotton goods were imported prior to the promulgation of the new tariff, and the reports received are that these are being shipped as rapidly og possible to consuming centres in the interior.
So far as woollen goods are cot cerned there has been very little doing, Prices are steady at the advance caused by the lower ox-change and the increase in the tariff, but they will have to increase a very long way before they will reach the price now required for replacement.
There has been very little genuine business in woollens, most of the purchases being of a speculative nature, The Yuenfong Auction 'There was another very satisfactory auction at Yuenfong on 'Thursday, when-a total of 408 packages' was disposed of. For dyed goods the enthusiasm was very much the same as last week, much higher prices being paid for cotton Venetians, Velvets and Poplins, and the demand continuing in great strength for' all qualities of Italians in spite of the very much heavier quantities all round.
Grey Shirtings were re-introduced with satisfactory results after an absence of several months, prices being well over Tls. 2 above the levels at which they stood when. these goods were withdrawn. It] would appear that in spite of local production and Japanese imports there is still a very good demand for English Greys, doubtless chiefly owing to the bare stock position all "round.
White Shirtings displayed a very good undertone, and many types of high quality filled frushed goods, as well as many of the Tientsin and Korean chops were very" much higher again. The attitude of the market in respect of Whites is fairly evident at the present time, Stocks are very short and it is obvious that dealers are going to find their present purchases. very profitable, but naturally they do not wish at the moment to pay more than is absolutely necessary. The whole market seems to be thoroughly impressed with the situation that higher prices are inevitable, and that the source of supply is extremely limited.
Text read from the printed page and cleaned; old type leaves the occasional error.