New York, Aug. 13.
After early activity, trading in the cotton market turned quiet, with traders awaiting more definite developments in connection with the Proposed loan. Bombay was credited as the leading buyer early in the day. Later, however, a more' threatening aspect of the Far Eastern situation checked selling and encouraged covering, Subsequently, the market became strong on general buying, covering and reports that President Roosevelt has agreed to the crop loan, with control legislation.
Easy conditions prevailed in the rubber market on September liquidation and commission house selling December accredited to foreign accounts, However, there was dealers' buying against factory sales. At the last call-over, quotations were from 8 to 12 points down compared with yesterday Prices in the Chicago wheat pit curly declined on—hedge-selling, Liquidation, disappointing cables and favourable European weather. Later the market steadied up on Eastern covering, reflecting the oversold condition and on the rally in Winnipeg which bolstered values. The absence of moisture in the Southern Hemisphere was also a bullish factor.
At the final bell, quotations re-Sistered gains from % to % of a cent up.
Under the influence of easier London cables, the sugar mai moved lower and the decline was zecentuated by commission house and trade selling and liquidation. Producer and European buying absorbed new crop offerings. At the close, No. 4 contract showed a decline from % to 1 point, After slight easiness on disappointimg cables, the silk market here promptly steadied up on covering and commission house buying, attributed to improvement in the strike situation. Finally, there was aggressive shorts covering of nears. and importer selling of forwards. Closing quotations ranged from unchanged 2 points down from the previous New York Cotton New York Rubber Oct. 1045-46 +27 July 10.56. +25 Dec. 1042-43 +29 "Sept. 1828-28-09 Jan, 1047-48 +30 Dec. 1042-48—12 Mar. 10.51-53 425 Mar.
May 1055-55 427 May New York Sugar © New York Silk Sept. 1.171gB-18A—1 Sept. 1881-85 +2
Chicago Wheat Chicago Corn Sept. 112%-112%-i4 Sept. 9735-979 Dec. 11394-11314, Dec." 6514-66 May 115%-115 +15 May 6732-6742
Winnipeg Wheat Montreal Silver Dec. 1274-127:
Sept. 44,65-5.05 une. id, A—Asked.—Reuter.
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