(Weekly report by courtesy of Messrs. J. Spunt & Ca.)
Chinese Cotton: Since our last review our market moved very erratically which was mainly engendered by speculative mani ulations. Prices" at the close Indicate a weakish tendency being influenced by the uncertainty as to whether the bull syndicate will take Up their May contracts. Tenders of May cotton are estimated so far to be around 70,000 Shih-tan, half of which said to consist of Tientsin rough cotton, Consumers have shown a ite more interest in absorbing spot cotton and a fair volume of business has been done in Shanghai and Ling pao grades. The foreign markets continue to move in a more or less and exert no me fon this market.
As to the future trend. it appears that such depends entirely on the Jnature of the operations. of the speculative element. In the event of the bull syndicate being financially Strong enough to remain their hold-Ings, comprising both of their April and' May deliveries amounting in all 180,000 Shih-tan, for a period of three months or thereabouts then there is every likelihood of this market experiencing advances in values of the indigenous growth be> cause of the fact that. with the ex: ception of the big stocks of rough cotton, the other domestic grades are more easily disposable before the lew crop appears on the market, Yarn: After wide fluctuations the Yarn market ins the weakish tendency at the close and prices declined by about $3 per bal he demand from continues to be very disappointing. and the outlook at this time is not very promising for the near future, Suanouar Mancer $5130 Lingpso, ex-Mtt {84.00 to 0030 Ningpo, OMI ea. $700 Tone of the market: Sieady.
Text read from the printed page and cleaned; old type leaves the occasional error.