yarn is lower on the week by Tls. 1 to Tis, 2 per bale, whilst cotton has declined approximately 5 mace per pieul.- American: prices have—kept very steady and show practically no change. There are no signs of increasing demand, either for yarn or cotton, With the peace in the North, some resumption of business might be expected, though interference with the trade routes by Communists is reported from various quarters, The weather still continues to be very favourable for the picking of the crop locally and rivals generally are morea:
In their weekly report Messrs. J. Spunt & Ca. state:—China Cotton:—In so far as trade changes are concerned the cotton, market has been rather, inactive during the past week, with tendency. at the close toward the easy side. The market has all the earmarks lof having reached a tempo halting place, with little dispo tion on either side to attempt more than scalping operations, until it becomes better demonstrated who ther there is going to be any material improvement in the demand for the staple or the movements of cotton from the interior will be more plentiful in the near' future, Spinners refuse to commit. themselves to any extent and are in most cases assuming a waiting policy requiring new developments fu the general outlook as an incentive for fresh activities. Exporters: are absolutely out of the market with no interest shown whatsoever.
This situation is attributed to no other cause than the depression of the world cotton markets, which according to the general' opinion now prevalent, does not indicate recovery for some time to come.
Ju the circumstances, therefore, the present moment favours selling, and any good decline that would clear. the speculative atmosphere} would again present a favourable opportunity to buy for investment, Yarn:—During the early part of the week our market has shown considerable retrogression and prices, declined as much as two taels in one day. This was accentuated by the disappointing volume of business in the face of brighter pro-[spects evolving from the more favourable political situation and [was further depressed by profes sional selling and heavy liquidation. The market rallied sharply daring the mid-week due to rumours of some combination among. the big local spinners (Chinese) to sustain the price and support the market! in every possible way in order that more remunerative figure may be obtainable for their mills' outputs.
Such scheme on their part may rove to be successful in the immediate future but final results will still, depend. on the quantity of Jactual business from the consuming centres. ap Well as.the cost of raw motorial, However,.at, the close, [prices again receded by about. Tls. 1 to Tis, 1.50 which was influenced lby the renewed declines in the American markets bearing similar Iweakness on the domestic fibre, Shanghai,' Spot. ex:
Shenst Shensi Ordindry, Sport ex-mill, Ningpo, Spot ex-wharf ses—.
Tone of the Market:—Weak.
Text read from the printed page and cleaned; old type leaves the occasional error.