New York, July 1.
Trading in the cotton market was early quiet, with prices showing a tendency to move lówer, owing to doubts over the Government's intentions regarding the Subsidy Bill. Later, prices firmed up slightly on trade buying, short-covering and the tightness of spots, and finally closed 4 to 1 points higher.
Liquidation, profit-taking and reports of large receipts influenced a [sharp reaction in wheat prices in ihe Chicago Grains Pit. However, the undertone of the market continues be good. At the final bell, losses ranging from % to % cent were recorded.
New York Cotton 935-5
346-46 835
820-21 May 82N, Chicago Wheat Chicago Corn Sept. 7146-71%—Ye Sept. 4376-49 unc. Dec. 72%4-72% =% Dec. 5034-5014 unc.
today:—New York Rubber, New York The markets remained closed Sugar No. 4, New York Silk and Winnipeg Wheat.—Reuter. ruled Berlin Bourse Berlin, July 1.
Despite the very favourable im-Pression made by the speech of Reichsbank President and Reich Economics Minister Walther Funk on Friday at the general meeting of the Reichsbank shareholders, foreshadowing a reduction of taxation to relieve the burden on the capital market so as to enable productive enterprises in the Reich more readily to obtain additional capital required to accolorate the production and develop the export, and declaring that the (National Socialist Government recognized the valuable function of the bourse in economic life and the neces sity for its revitalisation, no improvement of business occurred yesterday, the weekend close being listless and price movements as erratic as during the week.
This, however, caused no wonder because it is quite realized that the complete pre-occupation of the market in recent weeks in floating the new tax credit certificates before June 30, may be between $125 and $2. May profits this year least $3.50 per share. store 1989 earnings so that the holders of the certificates would be able to claim all fiscal advantages at the end of the year "when the certificates have been in their possession full six months, drained the share market of funds while the resulting depression was increased by attempts of those who wanted to buy certificates, to sell out their share holdings to raise cash—Trans-Ocean.
Text read from the printed page and cleaned; old type leaves the occasional error.