New York, July 16.
The cotton market early declined on belated July liquidation, Wall Street and Bombay selling and uncovering of stop-lo orders. Later prices steadied on local buying and evidences of more trade support at around the twelve cents level, and closed steady, with quotations ranging from 3 to 8 points down.
The rubber market eased towards the close on cables with foreign dealers cautious. At the last call-over losses of 25 to 29 points were recorded, Wheat prices in Chicago early ruled easy on rain reports, but rallied later on bullish Canadian crop news, covering, increased black rust reports, mill absorption and claims of rain and high temperatures which favoured rust development. At the final bell, gains of 2% to 3% cents were registered.
The.sugar market early eased in sympathy with London cables, but rallied later on trade and new outside buying, covering, light offerings and a steadier London closing. At the close, No. 4 contract ranged from unchanged to 1 point up.
The silk market declined on lower cables and the average estimate of mill deliveries during July totalling 30,000 contracts, which was disappointing. It is pointed out, however, that the figure reflects the holiday period and the seasonal slackening of hosiery mill-activity. Importers absorbed the moderate offerings. At the close, quotations were from % to 2 cents down, New York Cotton New York Rubber Oct. 1202-02—08 Sept. 18.98-9.00—28 Dec. 1191-97—08 Dec. 1911-1]—29 Jan. 1197-97—09 Mar. 1927-30—25
1205-05—03 B/A
May 1208-0—03 May 1940 N—25
New York Silk New York Sugar Sept. 190-90—!; Sept. 122-22); -+01
Chicago Wheat Chicago Corn July 127%. (new. contr.) July 128%-128
Dec, 814-81 476 er Wheat Montreal Silver 14512-83, Sept. 44.50-5.00 unc B—Bid A—Asked.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.