(Weekly report by courtesy of Messrs. J. Spunt & Ca.)
Chinese Cotton:—There is hardly anything fresh to add. to our Jast Feport except that a fair amount of urehases have been made by some of the Chinese and British mills of spot cotton at favourable rates, while to a great extent there was Tack of interest shown on the part of Japan-mills owing to Tesumed strikes. Prices, nevertheless, with very narrow fluctuations, remained on the same level s during the previous week. Our market has all the earmarks of having reached a temporary halting. place, with little disposition on ither side to attempt more that scalping, operations, until trated better whether there Is foing fo be any material improvement ili the demand for. the staple, or that the movements of cotton from the Interior will be more plentiful in the near future. "Although spinners are working" more remuneratively on their output, they are still loath to commit themselves to any extent on the raw material and are in most cases assuming a waiting policy, quiring new developments in' the General outlook as an incentive for fresh activities. "Exporters are absolutely out of the market with the exception of some small. parcels of id crop Tientsin rough cotton which fare "destined for Japan. Foreign markets continued ina steady posi-ton and apparently will remain that way for some time yet. Basis in the Interior remains firm and therefore no hedge selling pressure is noticeable at present. In the circumstances it-appears that any good decline that may occur would present a favour able opportunity 10 buy for in" vestment, Yern:—Demand from all sources has aot been heavy but prices ap-Preciated by some two to three dollars in sympathy with that of the yarn futures ruling in the Exchange, which was more or less influenced bY the manipulations of the bull. 3 ulators.. The continued paucity of stocks, as well as the Japanese mill strikes and also the heavy advances of the near months in the Osaka Sampin market, wore the main reasons for actuating the bull operators. The unfavourable political situation in the North appears to be ignored for the time being. While the wide parity in prices between. the near and forward months favours the during side, yet any enthusiastic operations on the bull side at the current high figures should be care fully considered, as heavy reactions are likely to take place at any moment.
Text read from the printed page and cleaned; old type leaves the occasional error.