On the local Cotton Goods Exchange yarn has not shown any Signs of strength during the week, dis now about Tls. 1 below previ ous quotations, while cotton is lower' by about 8 mace per picul.
America has again recorded a atop of 80 points for near and 60 ints for new crop months.
There has been very little actual! demand for yarn or cloth during the week, and clearances have not been too promising.
Although cotton is lower, as quoted above, actual holders of Shensi grades are distinctly firm. in thei rices, especially for cotton of at all reasonable quality.
There have been some purchases by the mills of spot lots of Indian cottons, But: generally speaking the prices are too high to work profit-
In their weekly report "on the market Messrs. J. Spunt & Ca. state:—
China Cotton:—Our market during the past week manifested easier undertone in the Cotton! Exchange and prices on the whole] may be said to have declined by' about half a tael per picul. However, such did in no way influence the values of the superior grades of the Jdomestic growth, which were firmly) maintained and indicated in some instances appreciation over _the rates ruling in the previous period. Such a situation promises to continue so long as the present dis-urged political atmosphere pervades! ithe upper Yangtze ports in that] [due to the militaristic operations there hardly and arrivals of consequence can be expected from that region.
Stocks of the old crop do not Jappear to be as heavy as at this time last year and, besides, about, the major portion is of an inferior grade so that the indications are that prices will rule more oF less at the present level until further developments of the new crop will modify the rates one way or the other.
Yarn:—Due to the continuous] internecine warfare, our yarn mat ket manifested throughout the week fan easier undertone, and prices declined further by Tls. 1 to Tls. 1.50 as compared with last week's level. Business for export has been booked some 8,000 to 9,000 bales in all counts and chops, during the week under review.
Text read from the printed page and cleaned; old type leaves the occasional error.