The week has shown a decline of from Tls. 2 to Tis, 23 per bale for Yarn on the local Exchange, while cotton is Tls. 0.60 to Tis, 1 per picul cheaper, America shows no strength, and near months and July recorded drop of aver 100 points ax compared with a week ago.
Sellers of actual cotton in Shanghai continue firm in their attitude.
Although the price on the local exchange in easier, this deals prin-ipally with the amount of Shan; Jrai-ginned cotton that is delivered the Exchange month by month. ay actually no Shensi cotton is now 40 delivered, as dealers are able tu get far better prices from the mills.
Clearances from the mills have been reasonably good, and improved political conditions in the near future would undoubtedly lead to a material betterment, In their weekly report on the market Messrs, J. Spunt & Cy. state:
China Cotton:—While our marke: during the early part of the week, evinced a weaker tendency, a somewhat firmer trend evolved at the close which was mainly engendered ranson of meagre receipts from the interior marts and holders of Dest grades being loath to part with their stocks unless at figures amore in consonance with their views, notwithstanding the fact of no active demand transpiring on the part of spinners for the staple. Prices on the whole declined Tls. 0.25 to Tls. 0.50 for near and about Tls. 0.75 for forward deliveries from those ruling during the previous period, The continued declines experienced uring the past week in the American market appear not to have had any marked influence on the local market, The indications for the domestic growth at the moment! are that no serious recessions are to be expected in the near future, every decline speculative buying becomes prominent in that the general opinion prevails that the current value of the local staple is comparatively the cheapest in the world when the current rate of exchange is taken into consideration for importation of the foreign fibre.
Yarn:—Fluetuations in the yarn market during the past week have been erratic, but the tendency on the whole has been on the easy side, and prices declined about two taels as compared with last week's level Business for export has been booked ome 9,000 to 10,000 bales in all counts and chops, one' of the market:—Firm.
Text read from the printed page and cleaned; old type leaves the occasional error.