Liverpool, July 24, Steady conditions prevailed in the wheat market, with October delivery closing at 9/4%d. per 100 lb., up a penny from yesterday's close American cotton futures in Liverpool were very weak. At the close of the market December contract declined 22 points from yesterday's close to 6.15 pence per Ib.—Reutei A fair amount of buying support was in evidence at the initial call of the stock exchange to-day. Practically all sections met with demand and showed fractional improvement in prices, During the course of early trading, the market tended to work both ways within narrow limits. Chrysler was consistently in demand throughout and, at the end of the period under review, showed a total in of slightly over one point, while most other market favourites improved fractionally on balance.
Uncertainty regarding the future irond induced foreign and domestic liquidation at the opening of the cotton market and October option declined 10 points from yesterda nal level to 1120. Continued selling pressure and the uncovering of stop-loss orders led to a further drop of 15 points to 11.05 in October contract. At the time of going to press, the market steadied on short-covering and October delivery rallied 7 points to 1112.
The rubber market was subjected to the usual Saturday closure.
Dull and uninteresting conditions. ruled for wheat in Chicago during early trading. September option opened unchanged at previous closing level of 119% with no further change recorded up to the end of the period. under review. Corn prices arked irregularly. After declining 12 cent from last close to 10134 at the outset, September contract improved % cent to 102%.
The silver market in Montreal opened with a steady tendency, September option advancing 10 points to 4460B/45.00A.—Reuter.
"Wall Street Journal" Comment
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