New York, Apr. 12.
The cotton market early declined on lower Liverpool and Bombay cables and overnight liquidation. Offerings still proved to be light. Later, prices advanced on local and Liverpool buying and covering, and closed very steady with quotations ranging from 9 to 12 points up.
After some hesitancy owing to heavy London selling, prices in the rubber market advanced on trade and commission house buying and a firm stock market, Offerings were very light, At the last call-over, gains of 26 to 33 points were recorded.
Wheat prices in Chicago early sharply declined on liquidation based on the Government's estimate that the Winter wheat crop will amount to 735,000,000 bushels, compared with 685,000,000 bushels for last year. Lower Liverpool advices and favourable foreign crop advices were additional depressing factors. Finally, the market partially recovered on a better international demand. At the final bell, losses of %4 of a cent. were London, Apr. 12.
Among commodities, cocoa, after weakening on liquidation by disappointed bulls and stop-loss selling, steadied at the decline. Otherwise, the markets were featureless.
London Rubber: Spot buyers 5% unc; sellers Sji—yy; May del, buyers 5% une; sellers 37e. unc.
London Sugar (Buyers) May 4/8% Aug. 4/1014—%4; 5/04—1.
Liverpool wheat: May 6/8%—2%: July 6/8%—2%; Oct. 6/5% -212.
Liverpool Cotton: Amer. Futures: May 474 unc; July 483—1; Oct. 494—1; Jan, 5.00—1; Egyptian Futures (Giza FGF, No. 7) May 664 +1; July 672 une; Sept. 6.72 une; Oct. 680 +1. London Metals: Copper, Stan. Cash sellers £30%—to; 3 mths sellers £393, Electrolytic buyers £491;—1:
sellers £441,—%4; Tin, Stan. Cash sellers £170% 3 mths sellers gm1—3%; Lead, Foreign, official price, sellers £16), Jers "£162;—%4; Spelter, official price sellers £14), mths del. sellers £13} registered, The sugar market early eased on active commission house and foreign selling owing to easier London cables, with heavy May liquidation and switching to distant months featured. Later, prices advanced on trade and producer buying and covering. At the close, quotations were from unchanged to 1 point up.
In the silk market, higher cables encouraged the buying of forwards. The advance of the stock market was also an incentive. Closing quotations were from 1 to 114 cents up.
New York Cotton New York Rubber May 871-71 9 10 July 817-77 y 97 +30 Oct. 885-85 +09 July 12.15-15 +33 Dec. 88989 +12 Sept, 1230-30 +33 Jan, 890N. +11 Dee. 1246-50 +26
New York Sugar No,4 New York Silk Sept 0.9414-9514une. May 1.50%-SIte+113
B/A B/A
Text read from the printed page and cleaned; old type leaves the occasional error.