Weekly report by courtesy of Messrs. J. Spunt & Ca.
Chinese Cotton: Whatever business that transpired during the past week may be characterized os having been. done more on a hand-to-mouth basis than otherwise which is due in a great measure to the very poor demand of mills' output, However, prices in the Cotton Exchange, through speculative operations, advanced by 3030 per 80 Klos for near months, being. Supported by the fact that values at which will in consequence strength in the rates for forward deliveries. The rainy weather so far experienced *has inno way een favourable to the unpicked new season crop and there is every reason to expect a considerable amount of deterioration which. will be more accentuated if the inclemency of the weather continues, in that what is required at this time to ensure the hitherto expected yield is dry an' Sunny weather to "allow unhindered picking operations in both the Kiang-ssu and Chekiang provinces, 'Th clines mow being registered in both U.S.A. "and Indian markets, coupled with' the firmer exchange rates, are bringing ubout a nearer parity to the prices ruling on.the domestic staple and the nearer such arity approaches the more incentive Will be generated for Importations of cotton trot ad. For the time being the general indications point to advisability of purchasing on recessions until the publication of the ext Bureau report of the estimated crop in the U.S.A. at which time a better view of the situation will have manifested itself for commitments for future requirements, Yarn: While there has been quite an active demand during the early part of the week which advanced values by about $3.00 per bale con-Sequent on the news of considerable destruction by the terrific typhoon in Osaka, nevertheless such activity proved to be of very short duration, in that at the close, prices declined to. the extent of being about $1.00 per bale lower than that current uring the previous period.
Shanghai, Sept. 29. 1 has led to dullness in some local markets, fand to the disappearance of some dealers, while the Japanese typhoon yarn and silk prices which was soon, ing typhoon, which swept along the Jeoust of Japan, doing damage to the fate autumn crop. Both Japan and China, responded with higher prices, but Chinese merchants went a step higher; they stopped selling. hoping that a' greatly reduced crop in Japan would enable them to obtain not only, higher prices, but also a larger share fof the world's consumption of raw silk, When a better survey was nade of actual damage done to the ferop. in Japan, all markets settled down, afier afew days, to normal and prices receded. The actual business done on the Shanghai market remains small and the steady rising Jexchange is handicapping export stil further.
Text read from the printed page and cleaned; old type leaves the occasional error.