Since the last report there has been no appreciable improvement and the rayon market still remains Gull and feless. Local stocks are fairly heavy and bulk supplies being offered in the market chiefly consists of smuggled yarns which are being quoted at ver, low prices, fully $80 Delow ottcial list prices quoted for the culet competitive "qualities, Japanese yarns have shown further activity and fair quantities have been disposed of owing to their very low prices, 'The market continues in its apathetic state and there is not the lightest sign of any. improvement in the near future, During the past' week 300 Tons of Molasses 8 & H were placed. at £4.70 cif, This would appear to bbe an Jsolated transaction, but as the first cif, business for about five weeks it is worthy of note, 'As from June 1 the Cantonese Government have declared a Gov: ernment ly for sugar, which Jocks Ike restricting trade' in the south, but until full and reliable details are available it is impossible {o state what effect it will have on this market.
Text read from the printed page and cleaned; old type leaves the occasional error.