(Weekly report by courtesy of Messrs. J. Spunt & Ca.)
Chinese Cotton:—While our market throughout the past week showed no pronounced activity, prices ruled without any undue fluctuations in a Heady direction. A fair volume o! Shanghai, Shensi, Tientsin American and Lingpao cotton was absorbed by some foreign and Chinese mills at] rather favourable rates, most of which were contracted for forward deliveries. Arrivals have fallen off to a very small scale and whatever stocks there are in the hands of, holders will be earried'by them over the Spring festival as they are very' much encouraged in entertaining expectations of higher markets by. reason. of the firmness now being' manifested in the cotton markets. broad, as well as the brighter pros-peels in the situation for mills' output, Furthermore, financial facilities are, for the time' being, freely available and holders display no worries about actting Joana against their stocks of cotton. While It cannot be gainsald that China produced more than a bumper crop this season and supplies of the indigenous growth have been very much more than in any of the, previous years, the fact should not be disregarded that a large volume of cotton has been exported Alrect from. northern and upvriver: ports to Japan and other foreign countries as well as that a very large quantity was consumed this year for wadding purposes, Besides, all the mills that slandstil for some time reopened and li the mills in general have, during. the post three months, resumed their full spindleage capacity, which naturily has heavily increased the con-the raw material and the last few days, the bull syndicate, comprising both foreign and Chinese speculators, supported the February position very energetically whenever any weakish aspect set in. It is ported that some hedge sales have been made in the exchange by some of the local mills for forward months. The stocks in the warehouses of the Cotton Goods Exchange have increased to over 12,000 Bales. it
Text read from the printed page and cleaned; old type leaves the occasional error.