Weekly report by courtesy of Messrs. J. Spunt & Co:—
Chinese Cotton:—Our market remained in a steady position irres-elective of the continued declines in the American and Indian markets ax the depreciation in the values of the foreign More was offset by the heavy @rop in the exchange rates. Althourh {he netua busines transacted was on very meagre seal fire reluctant to part with their Stocks at longer Agures, as arrivals from the interior are becoming Tess ally and, from what ts deducible at the moment, the quantity remain~ {ng of the crop Is not sume lent to meet the requirements of spinners tintil the new crop marketing ensues, unless very drastic curtailment in spindleage Is put into effect. fatherwiee there may be a possibility booking heavy contracts for the Indian simple. Movements in yarn during the past week have been comparatively active. which to a certain extent contributed toward fusing strength In the values of the raw material. It is also reported that some Japanese operators are Nolding big positions on standard cotton in the Cotton Goods Exchange.
that they rocomnize the fact tha! Chinese cotton, the rough stapled rades excepted, is the cheapest for Aomestic consumption.
While the outlook on American cotton Is not so bullish for the near Future no heavy retrogression wen expected on the Indigenous growth for the time being or even in the tong run and therefore we would rather favour purchases on breaks than sell short on any boom market.
Yarn:—During the week under! review a fair business may be recorded as having been done on lower counts of yarn for export to Yunnan and Northern ports at rather cheap rates. Prices on the whole remained In a steady position with a slightly encouraging senti-'Spent permeating the market.
Text read from the printed page and cleaned; old type leaves the occasional error.