New York, May 31.
Cotton prices early declined on the weakness abroad, liquidation and foreign selling. Later, "the market rallied partially on commission house buying to close barely steady, with quotations ranging from 12 to 2i points down from Saturday.
The announcement by the International Rubber Regulation. Committee that the quota for the third quarter had been fixed at 45 per cent. had a stimulating effect on rubber prices earlier in the day. Subsequently, however, the market reacted on dealer pressure and spe-curative profit-taking. At) the last call-over, gains from 9 to 13 points were recorded.
Steady conditions prevailed in the Chicago Wheat Pit at the outset on reports of Italian purchases. Later prices moved lower on general selling end liquidation. At the final bell, quotations were from % to % of a cent. down.
The firmness of the London market influenced a higher opening in the Sugar Exchange here, and prices further advanced on trade, operator and foreign buying and. coven Later, gains were partially shaved ing to increased offerings of stants. At the end of the Way's trading, quotations ranged from 1 to 3 points higher compared with Friday's levels.
With activity quiet, operators in the silk market refrained from making further commitments, awaiting signs of a trade revival in other markets. At the close, quotations ranged from unchanged to one point up from the previous final levels.
New York Cotton New York Rubber July 111-72 Oct.
336-11 Dec.
730-81
Jam. TT-
Mar. 785-85
Text read from the printed page and cleaned; old type leaves the occasional error.