New York, Feb. 16.
Early in the past week the raw! cotton marker'advanced on a broad-Jening speculative and trade demand and further prospects of crop control legislation. Demand from trade was sufficiently urgent as to indicate nervousness over the cost, Jof future supplies owing to. the Jstrength of the "spot" situation. The proposed bill authorising Government. expenditure of $150,000, J000 to buy cotton for the conver-[sion of goods for distribution to the Ineedly was also a contributing factor.
Later, offerings increased at! around the 124 cents level for Mai while more cotton was offered from the south which, it was believed, infloded some ten cent loan cotton, fand the market declined somewhat. Pressure was attributed chiefly to realising and also some scattered Teactionary selling due to reports that the Bankhead bill was meeting lepposition from one of the promi cit Agricultural Adjustment ministration officials.
'Towards the end of the week' the market steadied again on reports:
the effect that the Administra. tion favoured the principles of the Boukhead bill and would like early action.
The reaction of the cotton market checked business in textiles during] the past. week, 'Activity in the Northern Section'; Holiday Duliness By courtesy Realty Investment Ca.
Shanghai, Feb. 13.
The northern, section of the Settlement has the largest building operation for the week, plans have. Chinese houses on the corner of Been "approved for' thirty-one North Chekiang and Elgin Roads, This of course is to the south of the Railroad station and it is hoped that confidence will go forward to the section north of the Station. The volume of new building is down for the week and would be explain-fed by China New Year.
Text read from the printed page and cleaned; old type leaves the occasional error.