The local yarn market has been active during the week, and a con-[siderable business has been transact~ fed on forward contracts, whi [spot demand has also somewhat.
Cloth clearances ce satisfactory, bat dealers now show more conservative attitude and are not so anxious to commit then selves to forward purchases.
While American cotton during the week has been anything but strong, bear side, never losing sight of the ese most critical months of July and August which will govern the ulti mate outturn of the coming crop. [The value of the Indian staple has far not commensurately followed that of the American staple and the, jet situation does not appear to dicate any relieving feature in the near future, The Chinese ere lof the last seaton has shown itself! to be a rather poor one, most of chick, however, has been marketed, teaving rather snail stocks, and of inferior quality in the into Taking the foregoing into consideration one may be lead to anticipate Ino serious decline in the domestic staple unless the yarn market shows more weakness and the mills find necessary to curtail spindleage to minimize their losses.
Yarn:—Notwithstanding the de-Jctines in American cotton and the Jeulatinge ie the yarn Political rumours cir-
Seady, which was due to the prices have been" Weeping quite Practically no change in the tints ber market has token place. since last Week, except that locally pur chases have Fallen off, Prices are holding' firm locally. with an upward tendency, while on the Pacific Coast the tendency equally towards higher levels. eight space there is comparative: jy searce, So far' as Wusiness in Shanghai concerned dealers are. finding it dificult. to operate in view of the Pexition of exchange.
Teak has been dull during, the past week, ang only a small volume business us) been brought to There has been little activity in the "market for Hardwoods, but prices remain firm, 1
Text read from the printed page and cleaned; old type leaves the occasional error.