New York, Sept. 22.
The cotton market early advanced on favourable Liverpool cables, but subsequently reacted on renewed hedge-selling making new lows for the season. Hedge-selling checked the rally, while renewed: price-fixing halted the decline. Finally, the market closed steady, with quotations ranging from 1 to 4 points down.
The rubber market early advanced on the steadiness of cables, with support accredited chiefly to foreign and dealer interests. Latterly, the market became quiet, owing to the dullness of the spot market. There was switching from October to May option. At the last call-over prices ranged from unchanged to 1 point down.
"Wheat prices in Chicago ruled quiet on disappointing Liverpool Cables and favourable Southern (Hemisphere advices, but later steadied [on professional buying, the improved technical position of the market and the steadiness of securities. Towards the close, prices eased on realising. At the final bell, losses of % to 36 of a cent were recorded.
The sugar market advanced on trade buying, covering and the early steadiness of London advices, but later reacted on hedge-selling, liquidation and the reaction at London.
Closing quotations were from unchanged to % a point down.
The silk market early declined on commission house liquidation against 71 notices, which were readily absorbed by trade and short interests, but aside from switching, interest in distants was lacking owing to the forthcoming holiday in Japan. At the close, quotations were from unchanged to 1% cents up.—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.