Megsrs. J. Spunt & Ca.
Weekly report by, courtesy Chinese Cotton:—Our market may be said to have remained as inactive ving the week "under review as during that of the previous period {in 40 far as the mills are concerned. Business on the part of the specul tive doment was rather quiet and rates for forward contracts fluctuate ed. within a very narrow range Teauiting in a net decline of about three mace per picul, which is attri-table to ho other' influence than the renewed recessions in the American" and Indian' markets. However, prices for spot deliveries evinced a fairly steady tendency notwithstanding the fact of the mills in general showing no great keenness {fo replenish their stocks, as due to the persistent. depression in. the yarn trade, they do not appear to be inclined to' entov into any. commit= ments on the raw material. In the vent of the stagnant situation in the mills' products being. prolonge there' is. every likelihood. that a considerable curtailment. in splinengee will become effective in. the not too dista Umea material chang teelmicat position may be reasonably expected," Nevertheless it would be Aificult to predict at. the moment important" break From liwo already touched the same jow level that month last. yen, the domestic grow! fet of a major portion of the mills this year, being very much restrict {din their financial accommodations coupled with the very poor returns fon their output, have not beet int position to book their requirements of the foreign staple in adequate Quantities. Therefore any necessirous needs on the part of spinners will be. drawn from." whatey Balance is available of the. last season's Chinese crop and which will naturally prevent any extreme Heclines in. the values of te {indigenous staple.
Yarn:—Fluctuations in the yarn market during the past, week have been very erratic, but the tendency on the whole has been on the easy fide and. prices" declined about a couple of taels when compared with fast week's level. "Business for export ce Timited scale, Averaging only about a few hund bales daily" while production is, estimated to be around 2000 bales exelunive of that reserved for Weaving and other, manufacturing murposet, The politiel"stuation ing still gloomy ard the financial stringency" evincing as. yet Felaxation we sec no reason to change our previous indications entein "American Seed ions in steam features at what, in view of further orders. received, must be considered good prices, too! place for Lyons, with the coarser sizes especially being. favoured. A. few. orders, on the other hand, remained unexecuted as the price
[general feeling of pessimism con limits given "were "foo A Hinues to prevail and, while prices fare affected moderately, holders Jeannot yet see their way to meet European price levels. "America remains entirely aloof. Japan and /New York quotations have been the easy side throughout the week.
Text read from the printed page and cleaned; old type leaves the occasional error.