Osaka, July 8.
The gold reserves of the Bank of Japan yesterday totalled 801,286,000 Yen. same as last week and 521,041,- 000 Yen on July 8 last year. This shows no change as compared with last week but an increase of 280, 245,000 Yen from last year.—Reuter. despite excellent weather conditions, moved somewhat lower at the close (of the period in anticipation of favourable Government weekly reports, Early in the week rubber declined in sympathy with lower stock prices but later recovered on resumption of aggressive general buying by trade and speculative interests. Sugar futures declined on considerable Cuban hedging and indications that no constructive action will be taken at the International Sugar Council now in session in London.
Business news during the week was mixed. There was a small increase in employment and construction awards continued their upward trend. while non-ferrous metals, especially copper, displayed continued strength. Tire inventories were reported to be at their lowest level since 1936. On the other side of the books were an 'Thursday'
Quotations New. York, July 7.
Trading in the cotton market was early moderately active with considerable evening-up operations taking place, and prices advanced on the early strength and activity of stocks and trade. local and commission house buying, The advance, however, met with active liquidation and hedge-selling, which caused a reaction. Finally, the market declined with stocks and increased quidation and closed barely steady, with quotations ranging from 12 to 13 points own.
Prices in the rubber market today touched new highs on firm London cables, Wall Street and trade covering and commission house buying. Later, the market reacted on selling, accredited to a Netherlands interest, and profit-taking. At the last call-over, losses of 19 to 29 points were recorded, Wheat prices in Chicago early advanced on the steadiness of Liverpool advices and a better export inquiry, but later eased on a forecast of rains in the Winter wheat belt and favourable weather reports. At the final bell, losses of % of a cent. were registered.
The sugar market declined on Cuban selling, scattered liquidation end hedging, the easiness of London advices and a lack of demand. At the close, quotations ranged from 1 to 2 points down.
Prices in the silk market were early comparatively steady, with lower cables being offset by the firmness of securities. Later, the market declined on selling, attributed to arbitrage operations, and liquidation, due to the softer tendency of other markets. Closing quotations were from 2 to 3 cents. down.
New York Cotton New York Rubber July 899-99—12 Sept. Oct. 894-94—15 Dec. Dec, 9.02-02—13 Jan.
Jan. 904-04—12 Mar. Mar. 9.98-09—13 May 982-12—12
Text read from the printed page and cleaned; old type leaves the occasional error.