The only change in the piece goods market from last week is that there is a better demand for local sheetings at steady prices.
Representatives of Manchester houses seem to find that although there is inquiry for forward business, very little is being booked. Home prices are not strong, and there seems a hope among Chinese dealers that they will go lower, 'A few Poplins and White Shirtings are reported to have been done, but the amount is very small. Generally speaking, however, there are more signs of interest in White Shirtings and Spring goods, speculative inquiry apparently coming out.
The Auctions 'The Kungping auction on Tuesday was steady throughout, Very small quantities were again on offer. While Venetians were slight ly up on the average, Black Italians improved by about one mace, and a imilar rise took place in' White Shirtings. Yangtze ports were purchasers, and there were also some local orders.
Woollens have been quiet during the week. The fact of exchange having gone easy has had the effect of making the dealers hold off for the time being, A total of 152 packages was disposed of at the Yuenfong auetior on Thursday. Venetians were inclined to be stronger, good demand from responsible for a considerable improvement in the of Velvets. Italians on the other, liliand were rather weaker, being 14 mace down, chiefly due to the lack of activity' on the part of the Chinkiang' dealers. The improvement in Tientsin trade assisted White Shirtings which averaged about 1} mace higher. On the whole it may be said that the tone has not changed much during the last two weeks, but there are indications of improved demand. arrivals of which are vapidly in Hankow.
In their weekly market report Messrs. J. Spunt & Ca, state:—
China Cotton:—Whatever little business that transpired during ithe past week may be characterized as having been done on a hand-to-mouth basis, s0 that prices, with hardly and fluctuations, remained [steady at the close. The general sentiment for the moment, in the trade, while not decidedly bullish }for the immediate future, is strong the belief that any heavy recess sions will not take place in the near future, considering the steal of American cotton which and|brought about by the potent sup port of the Farm Board, lack hedge selling pressure," improved! demand in cloth, shorts covering and trade buying in the U.S.A. The jeurrent weakness of exchange rates fs also an unfavourable factor to the bears on the domestic staple, and were it not for the continued inactivity in our yarn market, Prices on the local staple would have registered a more elevated position than otherwise. The receipts from the interior and upriver ports are as yet insignificant, and hence prices from those sources show a rather firmer aspect, Tendors of cotton in the loca! Cotton Exchange may be estimated at about 10,000 piculs, the bulk of which consists of the Shanghai Minned grade. This quality of jeotton is usually taken up by Japanese consumers and exporters, but owing to their having booked: this year a considerable quantity' of Indian staple at more favourable rates, they are absolutely keeping out of the market by not making any purchases of this grade of cotton. The ginning mills, though reluctantly, find that they can do no better than deliver their cotton to the Exchange in order to reduce their stocks as well as to alleviate their financial position, and as the new standard cotton has now bet definitely fixed on a parity is between Shanghai M-ginned and standard cotton of 50 candareen
Text read from the printed page and cleaned; old type leaves the occasional error.