During the past week there has been a. miscellaneous enquiry for spring fancies, but, with the higher prices ruling' at time very little Business nas been confirmed. Demand for stocks, with the exception of Velvets, is very slow, and the market for spring stocks may be said to be closed.
Yuenfong Auctions With conditions becoming still more serious from the point of view of drought the market is inclined towards weakness, prospects for the autumn trade "becoming somewhat Affected by the increased food prices. Asa result of this tendency values of Black MMallans dropped about 20 cents a piece, and Venetians and Black Poplins are somewhat easier. Venetians and Coatings on the other hand remain more or less unchanged. The general tone continues very quiet and greater activity is unlikely until conditions become more favourable.
COTTON, YARN, ETC, Weekly report by. courtesy of Messrs. J. Spunt & Ca.
Chinese Cotton: During the past week our market evinced a weaker tendency and prices registered 2 decline of about $1 per picul which ascribable to the fact of there being an adequate spot supply of the local staple with comparatively very.
absorption by the mills and furthermore the bea Ish element have circulated rumours that the damage done by the drought to the new crop growth is not so anticipated and retrievable by true of the int now being perienced. Further factors which appear adversely to influence our market for the time being are the very meagre demand for yarn, and the mills during this trying season not working full capacity, Tenders the local cotton exchange for the current month are around—60,009 piculs and it remains to be seen to whether or not delivery of same will be taken or otherwise dealt with, Interest in the old crop cotton appears to be waning and more attention is being paid to the new tion, as the farmers are not benefit ting by the nigh prices, all their rice have been practically' forced out Jot their hands at very low prices for Want of finance. These same peasant farmers nave now to buy back their Jown rice of the lowest quality and a much higher price for their The import of foreig rice has Jcommenced, a few thousand tons of [Saigon rice has been booked at round. about $4.60 per picul.
Text read from the printed page and cleaned; old type leaves the occasional error.