(Weekly report by courtesy Messrs. 3. Spun & Ca), Chinese cotton:—During the early part of the week our market mani-{ested a reaction of about $0.75 due 3 to active covering of shorts as well to the little interest displayed by spinners for certain grades of the domestic growth, However, during the Tatter' part of the week prices declined again by about $1.75 which apparently. was brought about by the heavy, liquidation on the part of the: ull speculators, most of whom are sold to be gold-bar and bond merchants, The tendency at the close In-lines to further declines as consumfers are practically out of the market and may continue so until the market will move in a mote or less steady Aireetion, Experience shows that the more Weaknoes manifested Ju a speculative market the more selling contracts are generated irrespective of the indic of the technical position, "The foreign markets continue to maintain slendiness, Although it is rumoured that further government Toans for American cotton are now course of negotiations yet It is not expected that such will affect the Yocal market to any great extent because of the very wide disparity in pilees with that of the indigenous Staple, Indian cotton is also about $3 fo. $1 higher. than' that of similar irades of the domestic growth, Having the foregoing in view it would be: wetter to adopt, for the time belnig, a conservative policy and any too coa Ish a view had better be avoided.
Yarn:—The demand continues to be fon a very meagre scale and prices declined further by about $3 per bale in sympathy with the woakness in the raw material. The sentiment in the Grade, for the time being, ts not botlish But any improvement in the demand wilt quickly change the policy of the speeviative element, 'The timber market was very quiet during the week, Contrary to. the previous fortnight demand. for_for~ Ward business has dropped. " There} Ig_no change' to report in prices on the Pacific Coast. There is very litre demand for local stock cargo,
Text read from the printed page and cleaned; old type leaves the occasional error.