(Weekly report by courtesy of Messrs. J. Spunt & Ca.)
Chinese Cotton:—A decidedly weaker undertone permeated out market during the week under view in that prices steadily declined, resulting in a difference of $1 per Plcul lower than that last reported, While the foreign fibre maintained a rather steady level, the deprecia tion in the value of the domestic staple was mainly due to bulls une loading, influenced by the weakness in the yarn market as well as. the heavy tenders of February colton in the Exchange, which amounted over 40,000. shih-lan. and. of which very little was absorbed by actual consumers. 'A fairly large business in actual cotton was consummated during the week, both for spot and forward deliveries at. prices not at all commensurate with those registered" in the "futures" market, Holders show no keenness as yet 10 with their stocks at rales as WW og were offered by some of the buyers, basing their attitude on the fact that domestic crop is gradually nearing the tall end of the season and as the foreign fibre still shows foo wide a parity for importation hhere, the improved demand, which most likely to arise for the indigenous growth during the course of the season, will naturally bring about more remunerative rates. The indications at the moment are that while IE would not be advisable to entertain 33] any bullish views at present bearish 37 inclinations should. not be carried any extremes; but the wise polley to adopt would be to take In supplies 123] on any breaks that may evolve 18 from time to time, 'Yarn:—Our market manifested a rather weakish aspect and prices receded about $0 for near and $4 for forward deliveries. Tenders against February. contracts in the Cotton Goods Exchange were' exceptionally heavy amounting to about 21,000 bales which were taken up by, the bull syndicate. Spot demand has been very brisk during the week. Some the Spinners ave bought, buck {heir own chops from stocks in. the Exchange warehouses at most favour able rates, The Spring sales are now being looked forward to, but uncer fainty prevails as to what magnitude they' will assume, "pending further developments in the general outlook.
Text read from the printed page and cleaned; old type leaves the occasional error.