New York, Oct. 28.
Trading in the cotton market was inactive, with values moving narrowly. Interest was apathetic in the absence of incentive. The trade continued to buy nears, with contracts furnished by liquidation. Distants, however, eased lightly under moderate hedge selling. Finally, the market rallied on trade price fixing and New Orleans buying to close very steady, with quotations ranging from 1 point down to 5 points up from the previous final levels.
Under the leadership of offerings accredited to a London dealer and commission house liquidation, rubber prices eased today. Some stop-loss selling was also in evidence, while shorts and the trade bought on the scale down. At the last call over, losses from 10 to 18 points Were recorded.
Very dull conditions prevailed in ihe Chicago Wheat Pit, with prices moving lower on local pressure, the possibility of showers being received in parts of the dry areas in the south-west and reports that speculators were offering hear wheat under shippers' quotations. Foreign interest was very scanty, in the absence of speculative incentives At the final bell quotations showed losses from % to % of a cent from yesterday.
The sugar market was very steady today on Cuban producer buying, reflecting an improved technical position and better London cables, which absorbed profit-taking and liquidation. At the end of the day, No. 4 contract showed gains from 1 to 2 points from the previous final quotations.
In the silk market, though the under tone for nears was steady, forwards softened under light profi taking which found demand scattered. The average estimate places deliveries in October at 39,165 bales. At the close, quotations ranged from 1 cent up to 3 cents down "from yesterday.—Reuter.
New York Cotton New York Rubber Dec. 853-94 +04 Dec. 16,75B-76A—18 Jan. 844N. +05 Jan. 16.73B-08A—10 Mar. 841-42 +04 Mar. 1680-81—16 May 824-24 +03 May 1682-84—16 July 811-12 +04 B/A Oct, 732-82—01
Mes York Sugar No, 4
Text read from the printed page and cleaned; old type leaves the occasional error.