Weekly report by courtesy of Messrs. J. Spunt & Ca.: again, and closed 2c, higher than in Chinese Cotton: Our market was nervous and erratic throughout the past week, Heavy liquidation by tired longe, in' consequence of the reti-Jeence on the part of spinners and cheap offerings of the Indian staple, twas readily absorbed by the new bull clique who maintain a strong attitude and bravely follow the lone: side, irrespective of the fact spinners' takings being. small the [situation in the cotton industry. being very pessimistic, and the values lof the foreign fibre moving more or ess ons parity with that of the domestic growth. While scattered buying is reported as having been. done by Japanese exporters who eked out only cheap lots and in limited quantities, the spot basis [was rather easier and holders appeared to. be keen sellers. whenever fany enguities arose.
'Stocks are reported to be quite heavy in Hankow as there have not Been' any big arrivals from that port to" Shanghai since the commencement movements of the new season's crop.. The yarn position is getting from bad to. worse und frills apparently keep aloof fom any avy commitments, particularly" atime which is drawing nearer to the year-end settlements.
While on thig whole one may easily perceive that*there is nothing in ike setual position to "encourage any bullish" view, yet our market for the time being may be said to
clatly, by energetic manipulators, wet supported, "though arti. fit Zor How long and how fax such efforts: will continue will mainly de. pend. on the financial strength of the bull party, However, as we sve recently experienced" a most fapectacular breaking the values of yarn it would not come as a. sur-Prise to witness. a considerable lump in our cotton markets, soon us any weakness becomes feernible in the bulls" camp, There. fore. extreme caution should exercised in operations on the long side in the near future or such hi better be avoided.
Yarn: Our market continues to osintain gloomy aspect, there cing. no "improvement whatsoever the demand for actual. consumpmn. Had there not, been earlier me day any artificial support. by the Cotton. Industry Commission, the yarn market would not have found itself in the low state which it ie at present, siderable quantity of could, have been disposed of to actual consumers. at cheaper rates. Te is too Into now to apply any Femedial measures in view, of the fapprosching year-end. settlement fang the serious political situation, Although prices seem to be very fow and short sales are not advis-fable nevertheless one cannot state that the rates have already reached
Text read from the printed page and cleaned; old type leaves the occasional error.