New York, Feb. 10.
The cotton market early moved higher under the influence of higher Bombay and Liverpool cables, combined with trade and foreign buying. Later, however, the higher levels attracted some liquidation, southern hedge-selling and Liverpool selling which were well absorbed. The spot situation continued to be firm. Closing quotations were steady, ranging from 2 points down to 5 points up from the previous final levels.
A neglected appearance was presented by the rubber market. Trading was at a stand-off, owing to the imminence of the quota meeting and the forthcoming holiday. At the final call over, price changes ranged from 6 to 9 points up.
Prices ruled steady at the opening of the Chicago Board of Trade this morning, despite bearish cables.
China Expected to Repay
BANQUE BELGE POUR
United States
L'ETRANGER
(EXTREME-ORIENT)
Washington, Feb. 9.
S.A.
China will repay the $25,000,000 she recently borrowed from the United (Affiliated to the Societe States even if she is defeated in the Generale de Belgique) present Sino-Japanese war, Mr. Jesse Jones, Chairman of the Reconstruc-Capital: Frs.—30,000,000 tion Finance Corporation, told the House of Representatives Banking and Reserves: Frs. 3,000,000 Currency Committee today. Mr. Jones was called upon to testi regarding continuation of the R.F.C., the Com-Head Office: BRUSSELS modity Credit Corporation and the Export-Import Bank.
Branches "I think China will always pay her debt he said. "I believe in the in-SHANGHAI, TIENTSIN, tegrity of the Chinese people."
HANKOW, HONGKONG
Asked whether China would use Correspondents in all parts of the the $25,000,000 loan for the export of world. American war materials, Mr. Jones said he understood it would not be used for this purpose. "That was part of the agreement," he said.
Mr. Jones revealed that the United Swan,
Text read from the printed page and cleaned; old type leaves the occasional error.