Weekly report by courtesy of Messrs. J. Spunt & Ca.:
Chinese Cotton:—A general bearish feeling permeated our maret throughout the past week, evolying a steadily downward tendency and "registering @ price about $1:50 per picul average current as las Such a situation may be ascribed toh no other cause than the influence of the continued depression in the yarn markets brought about. by the unprevalent in, the political Spot demand very quiet state as spin rear diffidence toward requirements in the present grave circumstances and are. therefore Adopting' a waiting attitude.
Prices in. the American markets advanced some 75 points during the Hast' three' days and further apr lation is anticipated due to general buying having been stimulated. by the "B. S°AS having temporarily the old standard and the expectation of silver cur-Feney" inflation becoming. effectly Exchange rates. being very. mud firmer consequently the value of the foreign fibre shows a veduetion of about 84.50" Chinese" currency per picul' when compared" with that Fuling Vast week in face of the ent 15 points rise In Amevican mai kets. However, the value of the indigenous growth. is still, the eheapent but further appreciation in silver' exchange may easily bring About' the. possibility of booking tupnlion of the raw material fom 'Though there are rumours that Japanese firms may take advantage of absorbing all cheap offerings of the local. staple, it is' too early to presume to predict any material advance as the yarn situation and the exchange rates are' the most Potent factors that will govern this share, were rapidly quoted higher, followed by Szechuan Filatures, in which business was also booked at gradually increasing prices. Shan-tong Filatures also, opened, and, after transactions totalling about 120 bales had been booked, were ted at. higher levels. 'Other silks, practically neglected, were quoted nominally higher. It would de dificult at the moment to say whether this movement is _really-Justified and, if so, to what extent it will carry' the producting as well as the consuming markets.
Given a lead by New York, Japan quotations increased by leaps and hounds to over Yen 800, quoted on Thursday for standard grade.
Text read from the printed page and cleaned; old type leaves the occasional error.