In face of declining cotton values, prices of yarn have held up very [satisfactorily and business been of fai lees ker expecting the flooded areas of the Tin their weekly market report Messrs. J. Spunt & Ca, star Chinese Cotton: While the early A m/s, Lo, del Aue Sent 1/3 Seat, do cee Highest Lowest Closed aid Bars "oan. 7050. TeES0
Ban Sibvan Rogier pgnee per aid on, a TER Ready For'd
BenioSy" Re Wee't00 tales Hata "ete per On: 703 Bombay ofeake 35 bers.
Binckee Secy rin Bet closed atiebly part of the week under review exfemplified a slight firmness, the gen-feral sentiment which permeated the market since has modified it to an extent that,. notwithstanding the unfavourable crop news about the domestic growth in most of the feotton growing districts, there has resulted at the close a moderate decline with a downward tendency which was attributable to no other Jeause than the continual declines in the "American and Indian markets lof which the former has registered Jo new low level since the year 1899, Jw: th a total world supply looming Jup of nearly 24,700,000 bales, breaking the record in the history of the ection world. Silver exchange has been hooping fairly steady and the cal yarn nach Io rethe optimism ive at the present moment. The food situation in Hankow is grow-Jing more serious and the crop out-ook along the Yangtze valley decidedly pessim: stic. Althouzh the jdlimate conditions during the past four or five weeks have been quite favourable in the Kiangsu and Che-Ikiang. provinces and a considerable jretr-oval of the crop can be con-faciently anticipated yet the outturn of the final crop will undoubtedly be comparatively less than that of the season. Without disparaging Importance of the views of, the [interior holders as a price-making actor, it would seem that the result lof any bullish operations arly stage of the season, parti cularly at this period, when Amer-tean Cotton has experienced an un-Jprccedented low figure of the century which will undoubtedly in-
Jgeneral, may prove disastrous later fluence" the work's markets fin the season for those holders who Very narrow view of the situation by overlooking the statis-fecal position in the world, with mills holding fair stocks of cotton to cover their requirements for the immediate future and any attempt "of to force them into the market is not Likely to be successful. Therefore a belief may be entertained in favour lof a realisation of lower prices the duration of which, however, at Istage cannot but be problematical.
Yarn: Fluctuations in the yarn market during the past week have been nervous and erratic but the tendency on the whole has been quite steady and prices are nearly the same as those quoted last week. 'A better demand for lower counts has arisen from Canton, Yunnan and Seechuen ports and stocks of 10's counts have been redyeed to] 1 certain extent. While one.of the Teading Chinese Mill owners, who holds most of the lower counts and controls the greatest number of pindies among the Chinese Mills, ig enjoying a successful issue ris bearish position since the drop in the foreign markets after the publication of the U.S.A. Government cotton crop report, another mill owner who has the advantage of stronger financial support and has been sustaining a long position during the last two months, is strenuously working toward supporting the local Yarn futures and consequently prices for the near months have appreciated to a great Jextent while the bears are concen-_ trating their attention to the forjseard deliveries. in sympathy. with Jthe weakness of the raw material and the inevitably restricted bay-jing power in the central provinces evolving from the famine stricken situation prevalent throughout vast area in this country. to the conditions prevailing vp the river any movement of sugars out lof Shanghai has been precluded, shensi Ne. 3. Spot ex-mill Tie, $00 Shems Oraary, Spot ex mil S450 angle New crop, OcL/Dec-3450 Sines, New crop, OetDee.
Text read from the printed page and cleaned; old type leaves the occasional error.