(Weekly report by courtesy of Messrs. J. Spunt & Ca.)
Chinese Cotton: Our market during the past week, may be said have been more or ese of an aguish character, While prices were con Uinually. receding during the early part they reacted during the latter part of the week in successive Vances with the net result of prices being from 0 cents to $1 higher than those quoted in the previous period. Such "advances were entirely in-Auenced by the various rumours, about the monetary arrangements, made between China and the USS.A.
that most of the speculators consider such financial arrangements as being indicative of inflationary effects. A large volume of spot business may be recorded as having! been done in Lingpao grades, the major portion of which is intended for Japanese mills. However. spinners in general are keeping from riy' fresh commitments, roughly - estimated that the mills have sufficient stocks to them for at least two months Although the foreign fest firmer tendencies, such appea to have very little effect on' this market for the time being, as. spin~ hhers at present are more concerned with measures for disposing of their output than that of providing themselves with supplies of the raw material. Taking a survey of the situation as it, at present, stands, It very difficult to predict the trend of the market to any extent because of the preponderant vagaries on the part, of the speculative element, Yarn: A. slight improvement was noticeable during the week under review and prices advanced from $2 to $3 per bale in sympathy with the advance in the raw material. Spe-curators are very active in their yarn operations having resumed their buy-Ing policy during the latter part of the week.
The Shanghai Flour market remains about unchanged with the ception of some widening in the Alfference of prices for near and distant delivery reflecting the good prospects of the new native wheat crop.
Text read from the printed page and cleaned; old type leaves the occasional error.