The market for local yarn has licen active daring the past week, anda considerable amount of business is reported to have been done loth for spot and forward delivery. Prices ave firm and clearances been 00 1 American cotton has shown a somewhat firmer tendency, and has recovered sone 60 odd points from its low level Tadian cotton prices have ae vanced rapidly, and. this fact, has made. business in this. staple more imicult for the Jocal mails.
While itis reported that there are amy very small stocks of Chinese ction here, nobody seems to. be pecially interested at the moment in this variety.
their weekly report Mes Spunt & Ca, state:—
China Cotton:—Since the issue of our fast report our market bee ame gradually firmer until at the Cisse @ vise of TI, 1. to Tls. 1.50 per pica over and abore the prices ling during the previous week nay be registered which notwith Handing the absence of acy exten-rive demand from mills, wag, en= rendered on the one hand by cone Siderable quantities appropriated For covering shorts and on the other by very meagre arrivals from the interior marts, The diminish: ting. arrivals are due to stocks of last Sears evop being very light, to mers entertaining expectations higher prices for, whatever fable cotton is left in their hands also to farmers being busily eceeupied at present in devoting their attention to the new growth jravtichlarly as weather conditions continue favourable for the new season crop. The continued strength the yarn market is proving to be Jan important factor in influencing the prices of the raw material and which coupled with the prevalent low rates of silver exchange and the steadiness in the foreign mar kets prompt the formulation of an look for the time being, of a higher level of prices obtaining in the near future, Yarn:—As was outlined in our previous circular we have had a succession of firm markets during 2lthe week under review and prices (Continued on pogo 1
Text read from the printed page and cleaned; old type leaves the occasional error.