Yarn has shown a slightly im-Proved tone during the week, while cotton generally has been steady.
Clearances of yarn and cloth from the mills have been fair, but there does not seem to have been any special volume of new business booked.
Speculators are inclined to take)
an overbought position on news of the strikes in the Kancgafuchi mill combine in Japan.
In their weekly report Messrs. J. Spunt & Ca. state:—China Cotton—Another week has. passed during which actual business done was on a very small scale in £0 far as the demand from the mills is concerned, which attitude on their part would ordinarily prevent an up-wand movement to any appreciable extent, but contrary to expectations our market during the week under review evolved a firmness in prices which may have been influenced other cause than the firm holdings on the part of manipulative bulls taking advantage of the. reactionary appreciation in yarn Prices on the whole ad-
The crop was too big and prices too high, but the real cause of the break was due to the failure in the buying power of the natives of North: Afr Their cereal crops were good, in fact were the cause of the opening ¥boom; but too late the natives found them to be practically unsaleable lowing to the slump in the world prices of produce, The North African ports and Marseilles ate overstocked and deliveries slow. __The only thing to rectify the position would be a small crop, but we believe that in spite of all warnings the Chinese are likely: to produce one of quite normal proportions,
Text read from the printed page and cleaned; old type leaves the occasional error.