Wednesday's Closing Quotations New York, Nov. 2.
The cotton market early declined on liquidation, realizing and pressure of selling, but later rallied on better Liverpool and Bombay cables, covering and some speculative buying. Later, prices further advanced, especially later months, on commission house, trade and foreign buying. Finally, the market closed steady, with quotations ranging from un~ changed to 13 points up.
The rubber market closed quiet on routine trading, with the bulk of activity attributed to straddling operations. At the last call over, losses of 11 to 13 points were re-
Altogether the footwear industry appears to have experienced every possible adverse factor during the past year. The effect on company earnings is yet to be seen, but some indication can be gathered from the following table, which gives the trend of retail sales over the past two years and also shows how the recent fall in output has been reflected in an increased level of unemployment in the leather boot and shoe trade. corded.
In the Chicago Grain Pit predict orrestions of showers in parts of the south-west were offset by reports of overnight moisture, and prices quietly eased on disappointing Liverpool advices and a lack of foreign demand. Later, the market steadied on deterioration advices from Oklahoma, private estimates indicating a reduction in the Winter wheat acreage and the strength of Winnipeg and Wall Street. At the final bell, gain of to % of a cent were recorded.
The sugar market advanced on Cuban, commission house and new buying, reflecting the firmness of London advices. Later, prices partially reacted on profit-taking. At the close, quotations ranged from a to 1 point up.
In the silk market the easiness of Japan created rather active liquidation, but importer and dealer absorption and some short covering, together with better interest in the spot market, served to check the decline. Closing quotations were from a % cent down to % a cent up.
New York Cotton New York Rubber Dec, 854-54
Jan. 844-4
Mar. 841-42
May—826-26 July—815-15
Oct.—190-90 une. Deo. 1659-84—06
ET B/A
une, Jan, 1619 N 4494 Mar 16.80-82 +06 May—1632-82
Text read from the printed page and cleaned; old type leaves the occasional error.