Attention in these columns has recently been directed to the position of such dyed goods as Black Italians, and the immediate trade demand seems to be confined to these and Venetians. Being in short supply values have again improved, but do not yet approximate to replacing costs, although in, the case of Italians it is not unhopeful. One view is that actual spot demand remains too limited to push up values, Pout that there is distinct tendency towards speculation. Merchants who have cargo seem to show little inclination to part with it, hoping for a very much improved demand next month with again increased rates.
Stocks of Korean and Northern Whites are almost exhausted so far Jas the supply from Lancashire is Jeoncerned, and no great demand for these is likely to be experienced until Ostober. Even then, Japanese competition is likely to be such as to reduce the possibility of any new business in the spring.
Inquiries from the outports for woollens have been received, but no business has passed. Woollen prices hhere seem to be steady. buyers, as many of them consider that cheaper prices should be available thin the next month or two, Jand they are amply supplied for at least this length of Tt is expected that some local cotton be available for mill use in September—rather earlier than usual.
In their weekly report on the market Messrs, J. Spunt & Ca. state:—
China Cotton:—A weak undertone pervaded our market throughout the past week, and prices were carried down Tis.
25 per picul for August delivery and Tls. 0.75 per picul for forward deliveries lower than those current during the previous period. Aside from the speculative features, the chief developments of the week centered in bulls unload ling, bears selling, consequent on the heavy drop! in the American market, following on the publication on August 8, of the bearish U.S. Bureau report, in-ing a total crop of 14,362,000 Furthermore excellent weather conditions "prevailing in the China cotton belt. have also bearishly affected the market to a considerable extent. The general Indieations for the time being incline more toward a_weaker than strong-
The Auctions At the Kungping auction on Tuesday the near Yangtze and Tientsin merchants held buying orders for Blacks and Venetians and also for a [few Whites, which led to more spirited bidding and firmer prices. A few lines were taken by local! Jdealers, but there was not much speculative demand.
Quantities were about the same—71 packages—at the Yuenfong auction om Thursday, but certain changes were made in the proportion of the different goods offered. Dyed goods were increased, while in certain instances the quantities of Greys and. Whites were smaller] Generally speaking the market was very much the same as during past two weeks, a strong speculative as well as genuine demand being in evidence for dyed goods, 'a5 well as considerable activity being in evidence from Korea. Venetians were up 38. mace, Italians 4 mace and Velvets I macs, while Greys and Whites were 2 mace higher due to the Korean demand. So far as the demand for Italians was concerned, Chinkiang was not so active as last week, but this was to a very large extent offset by the continued activity of the local market and increased speculation in Hankow and Changsha chops, er direction, Looking at the situation broadly, and taking into consideration present position of the textile i dustries in the world, id the favourable weather conditions so far prevailing in the China cotton belt, we believe the indications for suecessful operations at the moment appear to be more on the bear side, so that if any temporary firmness should develop in the speculative market, we think it is advis take advantage of such m ts to sell, subject of course to the modifications of the weather map. Though in taking this view, it might be well at times to take advantage of weak markets to secure occured profits with view of selling out in strong markets.
"Yarn:—Fluctuations in the warn market during the past week been nervous and erratic, but the tendency on the whole has be non the easy side, and prices declined from Tls. 1 to Tis, 1.0 per bale as compared with the level last ruling. In all some 13,000 to 14,000 bales of local spin ni have been booked for export during week under review.
August/September shipment, Owing to the low prices: at which these offerings have been made, business in Java products has been precluded, In spite of the uncertain situation up-river, the offtake fo Yangtze ports has been fairly satisfactory. Dealers generally are waiting to how near by arrivals will move into consumption before taking further positions, but as these arrivals are not expected to be very heavy, it is believed that a resumption of import buying will be witnessed during the coming month, Last spot quotations for Java sugar are as follows:
No. 25 and Tls. 195 per picul No! 20 and higher is, 70 per picul No. 10 and higher Tis, 690 per plout No. 8 and higher Tis, 6.70 per picul
Text read from the printed page and cleaned; old type leaves the occasional error.