(Weekly report by courtesy of Messrs. J. Spunt & Ca)
Chinese Cotton:—The market was erratic and nervous during the past week. Declines were registered in the early part of the week on long liquidation" by outside speculators, particularly for near months, they: being intimidated by the diMeulty in disposing of large holdings of the old crop in the hands of the syndicate, as well as by the continual heavy arrivals of new Ningpo cot-'Later in the week, the market advanced on apprehension of the typhoon weather and a better demand for yarn; it weakened again on more favourable weather and less encouraging foreign markets, While [spot business has been less active, a fair volume of new crop business for forward deliveries has been recorded for local consumers at quite favour fable rates. The first' arrival of Tungchow cotton is expected to take place next week and complaints are being received from North Kisnasu indicating some damage to the crop owing to excessive rains and hi ea tides. Prom-nent cotton met chants are a ttle cautious in selling forward contracts at current rates, and most of them have bee covering their previous commitments any and every break.
The coming US. government cotton crop report may be slightly lower than that published last month but may not affect this market to any rear extent. While one may reasonably expect some further recessions in values of the domestic growth so long as the weather conditions continue favourable for the picking season, nevertheless, purchases "ona jseale down basis appears to be the best course to be adopted by the spinners.
Yarn:—The demand may be said fo be quite fair, but prices are moving in an easier direction. Certified stocks in the warehouses of the [Chinese Cotton Goods Exchange are still about 20,000 bales, which is the predominant impediment toward improvement, as otherwise one could Took forward to much better markets than those experienced at the present time.
The market is showing a tittle more interest in new business and a fair amount of enquiries "are going Found. For news on reels, buyers are already interested in shipments dur Ing the early part of next year.
In White Cap there Is also a demand, but Scandinavian makers, being Well booked up with orders for other qualities, stick to full convention prices and, moreover, cannot ive arly shipments. These orders are, therefore, going to Japan.
Tk is reported that considerable quantities of newspaper were badly damaged during the typhoon floods on Thursday, which should have some effect on the 1 coal market pelees,
Text read from the printed page and cleaned; old type leaves the occasional error.