(Weekly report by courtesy of Messrs. J. Spunt & Ca.)
Chinese Cotton. There was practl+ cally no change in the market throughout the past week which moved with a steady and quiet undertone. 'Tungchow dealers appear to be keen sellers of the new crop cotton and some business has been put through with interior Mills at around $28.50 per picul. Arrivals of new 'Tungchow. have' met with quick absorption and at much more advantageous prices, than that current for forward. deliveries. The demand on the whole from local spinners is rather poor as the majority of them are anticipating much lower prices, besides, as it often the case that the quality of the Srst pickings does not prove satisfac tory in the spinnings, they are adopting a waiting attitude at this stage of the season. Although weather ce ditions in the vicinity of Shanghai have been rather discouraging, there appear to be no complaints' from Tungchow or from any other cotton growing centres. The general sentiment prevailing in the market is that sooner the movements of the new crop cotton become heavier there is every likelihood of lower prices being experienced in our market; however, such may be modified by the fluctua: tions in the foreign markets as well fas the trend in the exchange rates, Yarn: Spot demand has shown some improvement during the past week, but the volume of business done has not been as large as was expected. 'As has been stated previously, the stocks of yarn being fairly low, any material demand from now on would easily enhance the values of mills' output.
Shanghai, Sept. ex-mill, Tungchow, Sept/Oct Ningpo, Spot ex-whart Lingpao, Spot ex-whart Tone of the market'—Sieady.
Text read from the printed page and cleaned; old type leaves the occasional error.