More confidence is being shown by dealers in the situation, but while steady sales are reported from second hand, it is quite impossible to connect "with business at.
Home, prices there being considerably higher than China ideas. There is, however, a small inquiry for: woollens.
As regards local stocks, it has been difficult to maintain the opening New Year prices, but few lower offers have been accepted. There is no bulk demand, but the fact that) 4 renewed political struggle has been for the time averted has helped Dusiness, Clearances have improved, and were the native banks to extend more credit facilities there is every indication that the offtake would be distinctly larger, The indications mentioned were of the market and a great inclination to await developments.
While the mills in general appear to be fairly well supplied for their near requirements and: show no interest whatsoever in making any further purchases in view of the present discouraging yarn situation, there is a general feeling that farmers are withholding their cotton and are only selling enough to tide them over their incidental expenses in respect of their immediate requirements, thus _bringing about an artificial scarcity, which is their principal measure in Under these circumstances there is little to be said as to the outlook for price changes in future and a scalping market may be expected for a while, subject to fluctuations in silver, the prices ruling in American and Indian markets, coupled with the attitude taken by the local spinners and the
sold. volume of their" products being Yarn—We have no change to report in the position of the local yarn market, in that prices ruling are nearly the same as last week. New business for export has been booked, some 20,000 bales in all counts at ruling prices. The market will present a more appreciable outlook no sooner the political disturbances in the country are fav-curably adjusted. spot cell Spot ex fully apparent at the auctions, At Kungping on Tuesday there was a better feeling, although trade orders were still searce, and competition, was generally restricted, local and near markets being satisfied to shares cases of Blacks and Fancies, Asa result prices were no more than steady. Ningpo took all the Greys offered, while Changsha and Hankow, bought' a few White Shirtings. Northern dealers were not in the Siti market to any extent, Yuenfong's quantities were this! week down to 112 packages. The auction bore evidence of the slight' improvement which has taken place since the political situation im-Proved, and, as was to be expected, White Shirtings were most greatly about one mace was shown through-influenced. An average advance of
out, most markets taking a greater interest, with the exception of Tientsin which romained very quiet. Greys did not seem to have derived any benefit from the better situation, but Black Italians kept quite, firm, chiefly on support from the local shops. But for the fact that Chinkiang chops showed some reaction on the advance which they made last week, prices would have averaged up slightly higher instead of being a quarter of a mace down, Considering the sales recently deliveries must be considered fair.
It appears as if somewhat higher prices may be seen shortly, as a fair demand seems waiting to be filled from up-country. Very short quantities have been offered both before and subsequent to China New Year, and it is obvious that stocks must be short, and a period of peace would bring about some improvement, although from the importer's point of view the whole position cannot be anything but unsatisfactory on! account of exchange.
Text read from the printed page and cleaned; old type leaves the occasional error.