'There was a slight Improvement in the trading activity. during. the. past week and the average dally turnover was somewhat heavier. The range of} movements was fairly' small but the Uigraduat downward. trendwhieh. was Slearly. dlacernible during. the. past week, continued throughout this period under review.
On the frst day of the week, weak ness in the price of the Custom Gold Unit indented speculators to sel at the very commencement of trading, [resulting ina drop from $115250 to $1470" a the earlier portion of the [Session but sharis taking. profit on a large scale lifted the price back to $1.40. Toward the end of the day further tlguidations by Jongs. caused the market to fall unt $1040: was Fesched, but when advantage a {akon of the situation by short com: mitments, the beice advanced once note to $1,107 small rise in the London Gold 'Market induced speculators to buy on 'Tuesday, advancing the price to 81, 18050, "but during the greater part of the day the market was quiet froiind, $1,147. Weakness in the Bom ay silver' market Brought the price up again to $1,400 at the close "mete was a very quiet. market uring the mid-week session and. the price remained practically" stationary about $18 Business was absolutely at a standstill on. Thursday morning with the market confined between $1483 and SitdtJ0, Rumours relating to. the withdrawal of the Japanese troops in the North influenced a bearish feeling Inthe afternoon. There was a flurry of longs taking cover and consequent the market was depressed to $1, Slow fluctuations were confined between $1,650 and' $144930 during the whole of Friday morning, but the "afternoon bears" predominated again, forcing the market down There was some activity witnessed uring Saturday morning. But prices ranged only within a narrow margin. from $1,144.70 to $1,140.60. heavy liquidation on the part of bulls who were influenced in that direction by the pessimistic political outlook in the north. Prices were sharply carried "down about two dollars per picul from the highest level but closed with a steady undertone, The receipts from "the interior marts continued very slow and all arrivals were Jquickly "absorbed by those whose deliveries are about to become due. While the demand on the part spinners is not exacting, due to the Inert state of the yarn trade, holders of spot cotton are maintaining a frm attitude by reason of the slow movement of supplies from the up-river ports, Taking into consideration the recent reaction, the technical position may be stated as being sound and therefore the constructive side is to be favoured and purchases.at the present level and/or on any and every Fecession will eventually prove profitable, though in taking this view, it should not be overlooked that it is advisable at times to take advantage of strong markets to secure accrued profits with the view of replacing pur-[chases in easier markets.
Yarn: During the carly part of the ]week prices in the Cotton Goods Ex-Jchange advanced further some $3.00 per bale when compared with that prevailing in the previous period, but the firmness was short-lived by reason of the weakness in the values of the raw material. Actual business (rans-Jacted during the week was very Small being restricted by the rather gloomy political outlook in the north.
Text read from the printed page and cleaned; old type leaves the occasional error.