New York, June 28.
Trading in the cotton market was early moderately active, with interest centred on July liquidation. After early steadiness on reports of further rains and the firmness of stocks, the market eased on liquidation, New Orleans selling and a less active demand. Finally, the market closed steady, with quotations ranging from 1 point up to 3 points down.
After declining on the weakness of cables, active commission house, foreign and dealer selling and the uncovering of stop-loss orders the rubber market rallied on the steadiness of securities, trade covering and a local demand. Finally, prices again eased on increased dealer liquidation. At the last call-over, losses of 33 to 40 points were recorded.
Wheat prices in Chicago early declined on favourable moisture reports from north-west Canada, hedging liquidation, the heaviness of Liverpool and Winnipeg cables and a forecast of showers in the Spring wheat belt, coupled with prospects of increased receipts. At the final bell, losses of 1% to 1% cents were registered.
Despite easier London advices, there was commission house, foreign and: outside buying and covering in the sugar market today, owing to the absence of selling. Traders are awaiting new developments. At the close, quotations ranged from unchanged to a: % point up.
The silk market eased on disappointing cables, the easiness of other commodities, local realizing and importer, Japanese and professional selling. Later, prices advanced with securities, the lightness of offerings, fresh speculative buying and covering and trade support. Finally, the market again eased on importer selling. Closing Quotations ranged from 8 to 3 cents down.
New York Cotton New York Rubber July amr Oct.—869-09 Dec.
Jan.
301 July 1358-52
E: B/A
—03 Sept..16.01-65
Mar.—01 Dec. 1415-18—35 May—O1 Jon, 1422-25—33
New York Sugar No. 4 New York Silk inventories. Retail demand showed 2 slight improvement, On the other hand, adversely foreshadowing the deferring of debenture interest, the Atchison, Topeka & Santo Fe Railway has omitted payment on their preferred dividend. The Wilson Compony has also omitted the payment of dividend on their 6 per cent. no-par cumulative preferred stock.
Sept. 0.9215-83 unch. July—162-84—3
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