Weekly report by courtesy of Messrs. J. Spunt & Ca, Chinese Cotton: Due to Armness of the spot basis in the interior marts coupled witn improved buying on the part of consumers, prices. ad~ vanced by about $0.75' cents above that ruling during the previous period. A further factor, which may bbe said to have infused' strength Our market, is the continued steadiness in the values of the foreign staple watch coupled with the not too "favourable exchanges rates time rom abroad and acts as militates against. importations, for the
incentive to local spinners. to confine their attention to the domestic growtn, While it is reported that there will be some heavy arrivals during the next two or three weeks from Honan, Shensi and Hupeh ravinees, naiders appear to show no anxiety to dispose of their stocks precipitately, in that predict that there will be a continual demand as most of the be supplied raw material for" any lengthy periods, being restricted in this respect by no other cause than Almited financial support. Further more, holders of stocks feel cent dent that there will be no occasion gr for any distress cotton appearing the market unless values in the foreign markets will evince a parity with that ruling on the indigenous growth, However exports of Chinese cotton to Japan have shown a con-iderable falling off this season, due to the fact that our industrious neighbour is in a position to procure his supplies from India at very much more favourable rates. In the cir cumstances there will be more cotton available here to meet requirements of Spinners in this country, but as Prices have therefore declined a few cents but the market is expected to Improve in a few days.
Text read from the printed page and cleaned; old type leaves the occasional error.