New York, July 20.
Trading in the cotton market was early inactive and prices declined on Liverpool cables, Liverpool selling on differences and the reaction in the stock market. There was also some hedging against new crops, but the volume of offerings was not large znd was Well taken by the trade and commission houses. Finally, the market closed steady, with quotations ranging from 5 to 7 points down.
Prices in the rubber market early steadied in sympathy with cables, but later declined on the unsettlement of Wall Street, heavy speculative realizing in December option and uncovering of a stop-loss orders. Towards the close, conditions became irregular on the relaxation of pressure and mixed trading. At the last call-over, losses of 9 to 13 pain were recorded.
After being steady, wheat prices in Chicago declined on the easiness of north-western advices, hedge pressure, lack of new trade buying, ideal weather in the Spring wheat belt, the rapid advance of harvesting and increasing receipts. On the other hand, it is anticipated that grass hopper complaints and the tapering-off of the Winter wheat movement will check selling. At the final bell losses of W% of a cent, were registered.
The sugar market early eased on Cubzn and foreign selling, liquidation, realizing, the easiness of London advices and increased offerings of futures. Finally, prices rallied on local buying and covering. At the close, quotations ranged from a % to 1% points up.
Prices in the silk market eased on the irregularity of Japanese advices, the reactionary tendency of other markets and mixed commission house and importer selling, which was absorbed chiefly by dealer hedge-lifting. Closing quotations were from 2% to 4 cents down.
New York Cotton New York Rubber Oct 864-65—07 Sept. 154545 Dec. 813-19—05 Dec. 1554-58 Mar. E B/A Jan.—06 Jan. 15.56-56
July 205 May -06 Mar. 1560-65
New York Sugar No.4 New York Silk Sept. 10034-02 +15 July 178-81—4
B/A B/A
Text read from the printed page and cleaned; old type leaves the occasional error.