While there appears te be no hope at the moment of meeting replacement costs, rendering new business with Lancashire out of the question, more, trade in stock lines fas been seen during the current week. Speculators continue to show. more inclination to pick up these goods where possible, and this thas tended tp strengthen local values, There has been a better demand for dyed goods and white shirtings than for some time, especially from Changsha and Tientsi for these have accor' up. In view of the demand, White Shirtings show signs of going up from two to three mace. Brocades and Cords have also changed hands.
Woollens have had-a very in different week, and elenrances have been very small.
The Yuenfong ion At the Yuenfong auction ea Thursday 183 packages were disposed of, and, as was anticipated ithe extended credit to Chinese merchants has had the desired effect of stimulating the speculative element and producing a more or less general rise is price. In Italians there were no spectacular fluctua tions as the quartitics on offer were comparatively heavy, but the movements which took place were steady with the exception of Changsha chops for which there was not much support owing to the uncertainty of the situation ther The average rise for these goods was 19 mace. Venetians were all stronger, while Velvets continued to receive active support, and other flyed goats were also on the firm fide, "Speculators were conspicuous an the active demand they showed for Whites, and as a result of the orders from Tiertsin there was the nice rite of 24 mace in pure finished goods. For other qualities there was also a healthy tone and prices were higher without excep tion, In general the undertone proved to be a healthy one, and in the case of White Shirtings the fature seems to be fairly bright on account of the lack of stocks.
So far as locally produced goods wold at the auction were concerned the demand for Fast Blues thowedl a steady improvement, and there was a further advance in prices. Bleachal goods showed a rise of four to five maco, while in other lasses considerable activity was Douring country, appear to be saied to let the situation take care itself, buying only in small lots While the yarn position has not. shown any improvement whatsoever, the American and Indian Cotton markets have experienced new Tow levels with a tendency to further declines. However, prices on the local staple do not) show any weakness which is attributable ce other cause than the hol policy pursued by the interior cot: ton merchants at Ningpo, Tungchow, Hankow and by dealers 19 Sharghai, who, ignoring altogether the depression now pr the worl their bullish views, being encouraged by the small receipts from the interior and by the higher prices! of seed-cotton which ate now being asked by the farmers. However, it must not be disregarded that' any shortage that may deveop in the Chinese cottam crop can be easily covered by the importa-ons from foreign counttes so long as the value of similar grades of cotton from America and India are on n parity with that of the domestle growth.
In. the circumstances weighing the chances on both sides, we see very little reason to expect any material advance in the near future and the indications incline more 0 weakness than to firmness provided no important reactions supervene in the American and Indian markets in the interim, Yarn—Although a few thousand bales of 10 counts have been book ed for export to Yunnan at rather Tow rates, the local turnover of busi-nets is still not of encouraging mansions. Some locally spun Jo. panese 20's yarn has bee shipped to Japan on account of sampin prices being comparatively very much higher when taking into eon sideration the current rate change, However, the local of yarn are not to be considered as. having been reduced to any extent in that the demand from the various parts of the country is very much restricted owing to the closer proximity, this season, of the year end settlement which, it accordance. with the Nanking Government's instructions is to coincide with the foreign calendar instead of the an-lent custom heretofore adhered to. Two Chinese mills have stopped work partly due to labour trouble and partly due to the depressed state of the yarn market, Tt is rumourcd that some more mills. will
Text read from the printed page and cleaned; old type leaves the occasional error.