New York, July 9.
Trading was moderately active in the cotton market, with prices early declining on Liverpool cables, overnight realizing and foreign selling. Subsequently, the market was steadier in sympathy with the action of stocks and on reports of rains in portions df the Western and Central belts. Finally, prices once again declined on renewed liquidation to close from 12 to 14 points below yesterday's levels.
Foreign Exchanges Bombay Rupee T. T. on: July 9.
Japan 78% London 1/578 New York 271% 2 months Soanghai S254, (sellers) 1/5% Hongkong 854. (buyers) 1/543
London £ Sterling T. T. on:
New York 494.00
Wheat prices in the Chicago Grain Pit eased on disappointing Liverpool cables, favourable weather, expectations of a liberal week-end receipts and a large increase in the visible supply. Later, the market steadied up to higher stock prices, evening-up Operations prior to the issuance of the Government report and the lightness of pressure due to the loan announcement At the final bell, quotations ranged from % of a cent to 1 cent down, New York Cotton
Text read from the printed page and cleaned; old type leaves the occasional error.