More trade orders appeared to be the hands of brokers at the Kang-ping auction on Tuesday, and the bidding was generally brisk. Advances in the prices of Venetians and Blacks generally were the order. The Yangtze, Changsha and Ningpo were the chief buyers.
The total of goods sold at the Yuenfong auction on Thursday was 72 packages. There was some improvement in the tone generally, but particularly in the demand for Black Italians which continue to appreciate on the strength of speculative interest and the obvious, shortage of supplies which will be acute towards Autumn. The advance in this line amounted to 22 mace, which, as already mentioned, brings the to 16 per cent.
May. Venetians and Velvets were Iso distinctly stronger, but sonal tendencies for Greys and Whites led to lower values.
COTTON, YARN, ETC, On the local Exchange yarn is rather higher on the week, being' about a tael up for near delivery' and half a tael up forward.
Cotton declined earlier in the week but strengthened later owing, it is reported, to a syndicate of Hankow merchants having been formed to corner the market for next month.
Forward prices, however, have not shown any strength, American cotton still continues ea downward path, and with good weather and the absence of insects, large stocks, and trade generally none too good, it is dificult to believe that prices have yet reached bottom, There has been a certain amount demand for actual yarn from the but it has been of no great weight, Demand for cloth has been rather better at slightly increased prices,
nly. bat clearances have been moderate In their weekly report Messrs.
Spunt & Ca. state:—China "Cotton:—Our market during the early part of the week evinced an easier undertone with prices declining about four to five mace which may be ascribed the very meagre demand for actual cotton on the part of spinners and the bearish sentiment engendered by the progressive declines in the American market as well as the wenkish aspect of - the Indien market. However, at the close arker shows a little firmer tendency for the July/August deliveries the Cotton Exchange due too report permeating the trade that a bull syndicate has beer organized by capitalists and cotton merchants for the purpose of) mai August cotton. The question presumably Gay 100,000 to 150,000 piculs for August delivery and is prepared to take up an quantity of actual cotton that may be tendered to the Exchange and which is estimated at Further reproduction prohi arrivals from the interior marts.
While such manipulations or operations, considering the present low stocks of the domestic growth, may prove successful, the mills ate all well supplied for their immediate and near future requirements and they need have no apprehension for any shortage in the raw material until the new ero} comes on the market. Moreover the weather conditions for the growing crop so far are very favourable throughout the cotton belt, and if similar conditions prevail without any untoward circumstances intervening, a fair average yield may be expected during the coming season. Prices for new crop deliveries are at about Tis, 1.50 lower than that for old crop and therefore holders of spot cotton are gradually changing their attitude by deciding to realize their stocks at current rates and replacing same by new crop deliveries in the Exchange, which move on their part) may be considered to be 2 wise ore.
Yarn:—In spite of the meagre demand from the interior eaup'ed the rather weak position of raw material, our market maintain-oda steady' tone throughout the week. The general feeling la encouraging, as it is anticipated there will be some big business ensuing within the month or so. Busi for the past week, 000 to 9,000 bales for all counts, Suacuar MARKET
Text read from the printed page and cleaned; old type leaves the occasional error.