(Weekly report by courtesy of Messrs. J. Spunt & Ca.)
Chinese Cotton: A decidedly weak undertone permeated our market Guring the early part of the week. Prices declined sharply about $4.00 er picul consequent on heavy Niquidation on the part of bulls, in= fluenced by the Sino-Japanese crisis up north. "However, at the close, sudden reaction took place, being Benerated by the more peaceful aspect of the northern political situa-ton and the net change for the week under review on the whole indicates decline of about $2.25 for near and about $1.50 for forward deliveries, Business transacted on spot cotton, though not voluminous, was done at Prices higher than those quoted. in the futures markets. This phase in the local market may be attributed to the fact of stocks of ready cotton steadily diminishing while receipts from the interior are not increasing and also to the fact that replacements from the interior command higher values, Climatic conditions have so far been all that could be desired for the mew crop growth which is making fairly good progress and with average sunny weather continuing there need be no apprehension as 10 the quality and quantity of the final The market is at a standstill owing to uneasiness due to the trouble in North China,
Text read from the printed page and cleaned; old type leaves the occasional error.