for yarn have ruled 8004 the, week, These moving freely into the interior, Large sales of yarn ate reported fon the part of the local Japanese Jmills, and it is understood that these go up to March of next year. The view is entertained, however, that @ considerable amount of this: is in the. nature of a speculative rather than of an actual business character.
Cotton prices have ruled firm, Business is still taking place in old Chinese crop, but the prices asked for new Chinese crop. cotton, although they may be justified in view the present indifferent, prospects, put these cottons out of line: with the foreign offerings.
In their weekly report Mes Spunt & Ca. state:—China Cotton:—Waile a considerable quantity "of American and Indian staples have been contracted for by local consumers at very favourable rates, there appears to have been mo enquiries whatsoever from any of the milla" for the domestic growth, though the market ing of the local crop fs still slow and holders and farmers continue to be indifferent sellers for the time bein In face of the further new low level registered in American Cotton the Jocal market maintains a firm aspect spite of the fact of the foreign five gradually displacing. that_ the domestic growth. It goes without saying that a better: yarn can be spun by using the American thre and Spinners recognizing this fact fave concentrating their attention toward booking their supplies {rom a and particularly sq. when the lue of the foreign fibre becomes comparatively very much cheaper than that indigenous to this country. Those who ignore the world markets and adhere to their old policy of viewing the cotton situation as it manifests itself only in China will feel it the more keenly at the time when mill requirements have been fully satisfied and no disposition of their stocks can be made otherwise than at painfully "sacrificial rates. Weather conditions during the pa few days have not been so favorable in the vicinity of Shanghai and movements of cotton may be further delayed. "However with bright and dry weather during the next fortnight a crop of about 70 per cent. of normal may be looked forward to. Most of the mills in the interior whose consumption of the raw material has always been concentrat-fed in the local "growth are now diverting their attention toward absorbing supplies of raw cotton from foreign countries. Had it not been for the. firmness now being experience in the yarn market and the prevailing unfavourable weather conditions, our market would have manifested very much lower rates. However, no matter what efforts or manipulation or infucuce will be exercised by the bull clique such may evolve only a tem-
prices will assert themselves agreoporary ally'as in. the long run ably to the law of supply and demand, Yarn:—Prices fluctuated within a narrow range but the undertone was rather firm notwithstanding the. fact that spot demand for all counts is not so brisk and Jupanese yarn was sold as far forward as to next June at very cheap rates when com-Pared with those of Chinese manufactures. Cloth fair and many mills have manufactured cloth to meet the immediate Tequirements and hange, evolves: smaller stock of yarn. The stoppage of mills in Hankow-by reason of the
Text read from the printed page and cleaned; old type leaves the occasional error.