(Weekly report by courtesy of Messrs. J. Spunt & Ca.)
Chinese Cotton:—While, nearly all consumers of raw cottort are expecting lower prices and are retraining from any forward commitments, the spot, basis. becomes very frm and Whatever litle stocks are available in the market, with the exception tientsin rough cotton held by' the naneiers, are met with quick absorption "at favourable rates, Prac tically all of the stapled cotton In the hands of the syndicate has been disposed of and some 10,000 piculs of Tienisin rough have also been sold for transportation to Japan at prices vanging from $41.75° to. $42.80 per picul ex godown, Shanghai. The large locks of Tienisin rough together with "a small portion "of "certain Lingpao grades, purchased some time. a very nigh prices, and which have been carried by the Bulls since April and May, ar not likely (o-come on the market. in the near (ature, agit is rumoured that dis ples have arisen between the hol ers and their bankers in respect of margins against loans, ted they will, the disposal of the cotton in question.
"Arrivals of new crop cotton, though Increased to some extent, have "not been suMeient to meet buyers' de-
Text read from the printed page and cleaned; old type leaves the occasional error.