London, Dec, 14.
Cotton, after reaching maximum advances slackened to the permissible decline on the reaction in New York and general profit-taking.
In rubber, there was much replacement buying, but the market later eased on general liquidation with prices closing steady.
London Rubber: Spot, buyers 117a—j,: sellers 12 January delivery buyers 11%—ty: sellers 12 Liverpool Cotton: American Jan. 840—25. Mar.
843—25 July 840 Futures: (Giza. F.G.F, No. 7) No. 2 contract: Jan. 9.53—35 Mar. 9.57—51 May 958—39. July 9.59—4l London Metals: Tin. Standard. cash. sellers £200,—614. 3 months. sellers £257—£7. Antimony, China Regulus, eld. per ton £76—80 Nominal unchanged. Tin. Straits, per ton. £200—285 Nominal—6: New York Metals: Antimony, Chinese. in carload lots (25 tons), fo.b. New York, duty paid 16% cts. per lb. ni changed; Tin, Straits, c.i.f. New York (25 tons lots) 50% cts. per lb.—1l: Copper, Electrolytic, first hand per Ib 121% cts. unchanged—Reuter Manila Gold Shares (Bids in Pesos)
Bid Prices am. pin. Closing Closing Atoks x 18 8 Antamok " s Baguio Gold Batong Buhay Big Wedge Coco Grove Consolidated Mines Demonstration Fast Mindanao Itogon SETS Mambulag Consolidated Masbate Consolidated Mine Operations North Camarines Paracale Gumaus San Mauricio Surigao Consolidaied Suyoc Syndicate investment United Paracale Mindanao Motiiertode Turnover for the Pesos.
ares Index: (Morning Session) 75.90.
S—Sales.—Reuter New York Market New York, Dec. 15. Prices on the New York Stock Exchange closed irregular today as a result of profit-taking and decreased volume.
The strength of commodities, however, has given the stock market community new hopes for a year-end rally of broad proportions. Bulls are increasing but there are still many bears who point out that the rise in wheat prices is natural in view of the drought. The rise in cotton prices is seen as a result of increased consumption Bears see no connection between the commodity market advances and the stock market, but the bulls do and some commentators say there is seldom a declining stock market while commodities are rising Wall Street hopes that a real advance will be generated and past history reveals that the last week of the year has usually been good in the past 4l years with the exception of 1937. Stocks advanced in the last week of 1938.
Selective buying developed today on a long list of issues, some of which rose as much as four points and a few to new highs for the year. Steels held just below their previous close while coppers were mixed Minings and chemicals were higher and rails were firm. Utilities and Oils were steady to firm and motors were mixed—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.