Yarn, s0 far as price movements during the week are concerned, has seen" vather patchy. Quotations Ihave only fluctuated within a very narrow range, but such business there has been has been quite sat factory. In view of the political situation it is natural that the South has purchased very little, but
have taken reasonable quantities. the other loutete ae. reported to
all cther varieties have followed in interruptedly during the week, an meric colton has declined Gri:
tite wake, Mills. generall seem to foe well supplied with the staple, fand are not anxious buyers. " Some Chinese mills, however, are reported have been forced into the market.
Clearances of cloth continue to satisfactory.
their weekly report Messrs. J. Spunt & Ca. sta China, Cotton:—While the demand for the local staple show.
no. improvement owing to the "continued sluggishness the yarn situation, prices whole maintained & steady position during the major portion of week with a tendency to slight ea ness at the close. A bearish movement on the part of large short inferests is making itself apparent, the reason for this being the Te-ports from Hankow indicative of an Tnerease in the export duty on raw often effective next month, and [consequently it is expected that a [considerable quantity of cotton will brought in here before the new Jdaty is leviable. Whatever stocks fare available locally consist largely fof lower grades and heavily watered stuff, and. therefore there are keen' buyers for any of those quali-sowing to most of the spinners confining themselves to the manufacture of finer counts of yarn. Holders are anxious to dispose their stocks at an early date for {ear of deterioration from excessive moisture and the only Javidating their holdings is selling on the Cotton Fehange and which would naturally [Sepress prices toa certain extent, Furthermore one of the leading Japanese firms who hold long interests in the Cotton Goods Exchange is reported to be ready to take up a considerable quantity May contracts, and it is presumed deliveries will not be on any small scale as the standard grade has foe en revised during the week and the quality and colour is a little lower than the grade in force heretofore, which means larger quantity of tenderable cotton. It is estimated that there is about 40 per cent. of old crop cotton lett in the upper provinces and about 20 per cent. left in the Kiangsu Chekiang'provinees. Higher grades Jare getting more scarce, and were it not for the depression in the yarn market the domestic staple would show a more appreciable aspect. Although the American market is still in am unhealthy state, the Indian staple appears very much firmer in its parity, and together with the current low rates of exchange there is no opportunity present for any relief by the sub-abroad. stitution of importations from
Climatic conditions for the new growth have been a little too cool, fand micro sunny' or hot weather is, essentially necessary for healthy germination.
Yarn:—Exports during the past week were quite normal but mostly confined to finer counts, "Movements of lower counts are still. discourage ing. In addition to several mills in Shanghai, the mill in Ningpo has: stopped work since last week which will reduce the production of 10's yarn. Some 500 bales of Chinese 20's yarn is reported to have been sold to Japan at Yen 108, While! tone of the leading Chinese millowners is very bullish in the market and is ready to absorb any deliveries of standard yarn that may [be tendered from time to time, the general sentiment is not so' optimistic by reason of the stocks being rather heavy and the uncertainty prevailing in the internal political situation, Tungchow, Spot chart No, 1 Spot o a Srainarr, Spat exon $000 Spo in 39.00
Text read from the printed page and cleaned; old type leaves the occasional error.