The principal interest in the piece vods market this week has been centred. in Black Italians. Appa ently the Yangtze and Changsha merchants hold. buying orders, but they are. resisting the price. advanes now asked, and in consequence the volume of business has been small. Nevertheless there is a distinctly better condition in. this section of the market which should not be overlooked.
For cloths of the brighter type of finish such as Italians there are no substitutes obtainable. Were it possible to obtain Japanese or local manufactures of a corresponding type, it is doubtful whether there would be the inquiry for these cloths which are now proceeding, but as this is not so, dealers are beginning to appreciate the serious shortage of stocks which exist. Since the middle of May prices for these goods have advanced as much as 16 per cent. on the average, which neatly offsets the fall there has been in exchange, while in certain qualities an appreciation of as much as 20 per cent. has been secured, Dut this even has not been sufficient to meet replacement costs. "Nevertheless the tendency is in the tight direction, and it is a hopeful sign.
Apart from the interest mentioned above activity has been limited owing to the heat, although dealers expect more doing next month.
Text read from the printed page and cleaned; old type leaves the occasional error.