New York, July 26.
The cotton market early declined on active commission house, Liverpool, New Orleans Far Eastern and Continental selling and liquidation, and traders appeared to have been discounting the 14,500,000 bales crop given by a private estimate over the week-end. Finally, the market rallied partially on covering, but met with resistance -and closed barely steady, with quotations ranging from 19 to 27 points down.
After steadiness, the rubber market. declined on a new low movement, commission house liquidation, stop-loss orders and dealer selling with demand limited to scale-down buying. Shorts were taking profits, while factory interest was very limited. At the last call-over losses of 10 to 12 points were recorded.
Wheat prices in Chicago declined on liquidation, stop-loss selling, the weakness of Winnipeg, a liberal increase in the visible supply and hedge pressure, although resistance was shown at the declines on reports that an exporter was buying July option. At the final bell, losses of 2% cents were registered.
The sugar market early advanced on European, producer and Cuban buying, owing to steady London advices and the lightness of offerings, but later prices reacted partially on trade and commission house selling and outside liquidation. At the close, No. 4 contract ranged. from % to 1 point down, The silk market ruled easy on lower cables, renewed Sino-Japanese military activity and the weakness of other commodities. Speculative liquidation was absorbed by traders. At the clóse, quotations were from 1 to 2% cenis down.—Reuter.
New York Cotton New. York Rubber L Oct. 1095-9:—27 Dec. 108092—23 Jan. 1094-0—19 Mar. 1096-98—21
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