Manipulators Blamed for Unexpected Rise: Powerful Group in Control Shanghai, June 10.
'The Chinese Cotton Goods Exchange ceased trading on June 10, although it was not officially. closed. 'The impasse arose over the diticulties of "the brokers, who stopped transacting business,' No quotations were offered, the yam market being completely tied up.
All mills in Shanghat are at pres ent working to capacity to fulfil their commitments and are unable to make delivery to ease the present technical position.
Wild speculation was witnessed for some days before the present impasse in the yarn market, Rumours, supposely circulated at the instance of certain. interested parties with ample, backing, including, it is stated, a number of Chinese officials, added the confusion of the market, the eon-sequences of which has mostly fallen. upon the responsibilities of the brok-ere, At least one broker Is known to have gone bankrupt, and others are expected to declare insolvency in the; meanwhile.
Text read from the printed page and cleaned; old type leaves the occasional error.