New York, Nov. 16.
Trading in the cotton market was inactive, with fluctuations narrow, while operators were awaiting fresh incentives. Prices early ruled steady on trade and spot houses buying, with hedging light, although small advances met increased offerings, while the decline of the Stock Market induced local selling. Finally, the market reacted on liquidation and hedge selling to close borgly steady, with quotations ranging from 1 to 5 points down from the previous final levels.
With trade support less evident, rubber prices eased today on foreign, domestic and dealer selling and spe-
Shanghai's Foreign Trade for October According to the monthly returns issued by the Chinese Maritime Customs covering the foreign trade of Shanghai, net Imports during October, 1938, totalled $27,017.952. Net Exports totalled $22,795,371. January-October figures were $201,941,867 and $164,302,498 respectively. curative realizing. Factory buying, however, was a steadying factor on the decline. Finally, the weakness of securities was a depressing influence. At the last call over, losses from 22 to 27 points were recorded.
In the Chicago Whest Pit, the unexpected weakness of cables from abroad and the reports that exporting nations have resumed offering cheap wheats brought out Eastern selling and liquidation. The waiting attitude adopted by foreign consumers was rather unsettling. Finally, prices rallied partially on covering. At the final bell, prices ranged from no change to % of a cent, down. that discussions were still conto make a statement at present.
In a supplementary question Come mander Marsden asked whether any advance had been made at all.
Mr. Butler repeated his answer, and added that he realized the urgency of the matter.
Mr. L C. Hannah, Conservative member for the Bilston division of Wolverhampton, then asked whether the Government was aware that British trade in China was still held up by the continued imposition of inconvertible paper currency by ghe Japanese; whether any action had been taken by the Japanese to permit a resumption of normal credit facilities, and if not, what action the Government was taking. 5 The Government, Mr. Butler answered, was aware of the position and was keeping it closely watched.
Text read from the printed page and cleaned; old type leaves the occasional error.