(Weekly report by courtesy of Messrs. J. Spunt & Ca.)
Chinese cotton: "Our market hi been and continues to be very wes and owing to the very serious -Sino-Japanese situation business from consumers may be said to have been at an "absolute standstill." Prices for August futures, though fenders were. not so aggressive, have declined very Heavily during the last few days owing to buyers hesitating to take delivery due to the very. disturbed, secur inst Hold situation and the impossibility of
fers of all grades of stocks are busily, engaged in transporting their cotton to places which, for the time being, they believe to be a safety zone. The continued decline in the American market consequent on the bearish government report has depressed oUF. futures market to the extent of one dollar per shih-tan, "New crop conditions may be accepted as "being, favourable so far but such has not influenced our market #0 much "as the present very critical "political situation, The Cotton Exchange may have to suspend business if the local Sino-Japanese warfare becomes more intensive and as the Chinese. banks. have already temporarily suspended business by order of the Ministry of Yarn: Prives have been quite firm during the early part of the week owing to reduced stocks in the Exchange warehouses but declined Seat at ea tae et mand having fallen off for lack of Shanghol, Aug. 14, The stock market og a whole continued during the past week fo" hela within the "ess. "than 2 per cent, price range which has limited all "movements since July 19. 'During "this time "the dally turnovers have never exceeded 000,- 000 shares and. during the past week have averaged less than 700,000, This combination of fractional fuel ip- tuations and inactive trading indicates that' some new incentive. is Reeded to produce a definite trend either direction. Selectivity, how-fever, has been evident and on Mon-{ay,'for instance, coppers. and steels lsplayed noticeable strength. Proft-{aking checked all such advancing tendencies but on. the other. hand there was absolutely no selling pres-
Commodity prices reached new tows for the year on Thursday with serap estimates potent, market fae tors, The cotton. yield was put a 16,508,000. ales," the largest. In sit years and an increase of 25.8" per ent. over last year. Quotations, however, resisted "fairly "well the bearish implications of this forecast Ju. the belief that a loan might be granted "even though" President Roosevert insists on at least the pro-rise of crop control legislation condition for such advances, "Wine hipeg. wheat rose the full limit Tuesday when the Government. ort confirmed the probability of a Canadian crop only 8 per cent, of normal or about 160,000,000 bushels, The US. crop estimate was about $0,000,000 bushels larger' than expec {ed though some of the wheat Interior quality. Corn held relatively steady on a lower crop estimate than hod been anticipated and also reports at drought damage but later weaken-on good rains. Tubb while traders awaited A figures but factories were the lower prices, Sugar was steady with September liquidation offset by Guban' start covering.
The market in figure Fase 8 Cure ute Bee teecesa Saas ecu aa taal?
Black Tea. A small business has sere aa, of gt ott rd bated Bk ota Green Tea,—Chunmees. "Sales have been mainly confined to. the ner qualities of Mouyune and Tien-kal, the supply of which will soon finished. There "has aleo been some demand for "Specials". The stock of these Jatter is heavy.
Sowmee. Demand continues brisk, and each day's offerings are immediately absorbed.
Gunpowder. Demand continues, but arrivals are scanty. Supplies for the season are expected to show a heavy shortage. as compared with last year.
Text read from the printed page and cleaned; old type leaves the occasional error.