(Weekly report by courtesy of Messrs. J. Spunt & Ca.)
Chinese Cotton:—Durlig the. past week spot demand Improved considerably and a large volume of business was done both for Immediate ud forward deliveries at rates rong Ing from 25 cents to 50 cents per picul higher than last week. Prices in the futures markets remained in a steady position but during the latter part of the week a drop of nearly $1.00 was recorded which was engendered by the renewed weakness in the foreign markets as well as the serious political Uisturbanee in Japan. Soon after, how-over prices recovered their previous level duc to firmer basis prevailing for spot cotton. Reports from differ cent cotton centres Indicate that do-sirable grades are showing signs, of exhaustion and some of the dealers fare closing their buying agencies in the interior owing to dimeulties in securing stapled cotton at more reasonable rates, From a, statistical view point It appears that domestic Supplies are not suMefent to meet the Fequirements of the mills in China until the advent of the new crop. Spinners are already paying some attention to the Indian fibre, prices for which still range between $2 to $5 per plout higher than those current the domestic staple of similar quality, "Having the foregoing tu View Li seems that the future trend of the market will depend more and more on the movements In the forohn markets Yarni—Demand_ has been normal and mostly from Szechuan and Northern pons, Stocks locally are esti-be around 70.000" bale:
'Trading in the paper market was on the slack side during the week, dealers particularly showing litre terest in ordering now cargo. The tulilarist coup tu' Japan has already had its detrimenta Influence on the Yocal market. The Scandinavian Kralt convention, according to a report just received, has again. raised official prices by another 20/- per ton—the increase Is apparently due to the large number of orders being placed. Otherwise prices remain unchanged with a firm tendency. Deliveries from local stocks have been below normal for the season.
Text read from the printed page and cleaned; old type leaves the occasional error.