New York, Dec. 27.
Trading was inactive in the cotton market, with January notices well absorbed. Later, southern hedge selling and foreign liquidation depressed prices. At the close, quotations were from 3 to 7 points down from Friday's levels.
Despite the closing of most foreign markets, trading was quite brisk in the rubber market, with prices moving higher on good consumer and factory interest. At the (ast call over quotations ranged from 8 to 11 points higher.
Prices in the Chicago Wheat Pit were early influenced by some liquidation. Later, the market rallied on reports that the cold wave has reached some of the southwest areas, which induced local support. At the final bell, quotations were % cent above Friday's levels.
New York Cotton New York Rubber cent.
United States' concessions on British products.
Whiskey, gin. and rum—present rotes of $230 per proof gallon found against increase. Imports of spirits in 1937 totalled $54,651,000, of which $92,800,000 were from Britain.
Cotton manufactures—duties reduced on 40 classifications. Reductions range from 1/5 of one per cent. to 7 per cent. ad valorem. On cotton cloth, reductions range from 20 to 48 per cent.
Flax, hemp, jute and manufactures thereof—duty reductions range from to 42 per cent.
Linoleum—duty reduced about 25
Text read from the printed page and cleaned; old type leaves the occasional error.