(Weekly report by courtesy of Messrs. J. Spunt & Ca.)
'Chinese Cotton—Spot demand may be said to have been ina more oF ess lethargic state but prices main~ fained a firm level particularly for ear months during the early" part of the week, owing to bullish support engendered' by the strong feeling manifested, in the yarn market, It Fumoured "that certain ancial ireless are endeavouring to corner the May position az they are of the opinion that tenderable cotton will not be voluminous at the present. rates and besides, the values of the Indian growth are not as yet in line with that current on the domestic staple However, as the American. marke moved in a declining direction, our market evinced at the close a somewhat wealdsh aspect. Spinners appear to be satisfied with their stocks of supplies for the time being and, even If values of yarn reach further heights, any large scale of replenish: ments seems hardly kely in the immediate future," While arrivals eunnot be considered as having any way increased, the offtake by the maills has not shown any such marked [improvement us to have evolved a palpable: reduction in the local cotton Stocks. The weather conditions both the US.A. and Grint cation belt sentiment while not decidedly bearish {rather reluctant to follo ide at the current gute statistical point of View the cotton end yarn situation should be consider fed. under distinctly separate cate gories.
Yarn—Although demand has not een as great it week, prices ruled firmly In the spot market. The Dull syndicate by bravely supporting the yarn futures in continuously. buying May/June contracts forced up prices for May delivery to §274, which 4s higher by $17 a bale than the last Jow ruling during the previous period, 'The forward months, however, remained in a steady position ' with prices registering on the same level last reported. 'Notwithstanding the fact of the Authorities in the' Exchange having increased the margin on new transactions to $42 8 bal oppeats that the enthusiasm on the ort of the bull clique is in no way aunteg, "As to he future trend would be too presumptuous to predicate one way or the other' in purely speculative market and con servative traders or financiers had better be wary of being pulled into 'Pons' of the market! iced, (WHEAT AND FLOUR, During the past week the world wheat markets were rather under the influence of the holidays. There was. little trading, "and "prices showed a decline on the moderately bearish Interpretation of the American Burem. Report, In Shanghai, the wheat and flour markets were dull although the pelees remained at the previous level,
Text read from the printed page and cleaned; old type leaves the occasional error.