(Weekly report by courtesy of Messrs, J. Spunt & Ca.)
Chinese Cotton: Our market dur-Ing Wie past week moved in a steady' to. firm direction in sympathy. with the steadiness displayed in the foreign markets, and as the rates of exchange were unfavourable to importation of the staple from abroad, consumers concentrated their atten tion to the domestic growth and absorbed quite a considerable portion of the Lingpao grades which were available at comparatively lower prices. Strong rumours are in circulation in the bazaar that some speculative manipulations are being carried out to maintain the values fof April standard cotton by taking advantage of there being very little Lingpao cotton, if, any, to be tendered this month owing' to the premium for superior grades against April deliveries being $2 lower than that for May deliveries, Spot basis continued a firm direction in that demand from spinners appears to be more encouraging than last week, as the prices for their yarn output showed fal improvement with brighter prospects for the near futvve, Tt is Reported that there are about 50,000 bales of Lingpao and Loyang grades stored in Chengchow, which stocks are intended for shipment to Sh hal. The arrival here of such a large quantity is likely to depress the local market, although such comprises! Tower grades of short staple and off colour, Supplies of the indigenous growth suitable for spinning 16 and 205 counts are stil! very small and prices thereon firm up whenever any demand arises. Business on the for-feign fibre continues to be rather quiet owing to disparity in the values, Yarn: Some improvement in the demand fas been experienced during the past week and prices advanced from $1 to $2 per bale, The mills are bare of stocks of certain counts and are now working on a more remunerative basis than before. However, they are hesitating to operate in full capacity and are endeavouring to prevent large accumulations which would tend to depress prices. 447% Bonds, 1908
All Produce Markets were very' quiet during the last week. Few enquiries were made, and practically business transacted,
Text read from the printed page and cleaned; old type leaves the occasional error.