New York, July 22.
The cotton market carly declined on a perfect weather map, very favourable crop advices from the South and a general absence of buying incentive, Finally, -the market rallied substantially on covering and closed steady, with quotations ranging from unchanged to 5 points down.
There was a new low movement in the rubber market to-day, and prices reacted in sympathy with London cables, Dealer interests bought on the decline, Latterly prices hardened on shorts covering, but closed irregularly steady on the advance. At the last call-over gains of 10 to 13 points were recorded.
Wheat prices in Chicago early advanced on sales of western winter wheat to Canadian mills and further north-west reports, but later prices reacted on the weakness of Winnipeg, hedge pressure and liquidation. At the final bell, losses of 3% to 3% cents were registered.
Prices in the sugar market advanced on Cuban and foreign buying and covering, owing to the weakness of London ' advices, and the absence of selling pressure, At the close, No. 4 contract ranged from unchanged to 1 point up, The silk market closed steady with domestic trade factors absorbing offerings, which were attributed chiefly to Japanese account. Speculative interest was slack, pending clarification of the political outlook At the close, quotations were from unchanged to 1% cents up.
New York Cotton New York Rubber Oct. 1164-04—03 Sept. 1886-89 -+10 Dec. 118-80—05 Dec. 19.00-08 +13 Jan. 1182-82—4 Mar 1910-13 211 Mar. 1187-8;—May 1921N. +12 May 1133-14 unc.
New York Sugar New York Silk July—252B-53A. July 1.90B-92A
Text read from the printed page and cleaned; old type leaves the occasional error.