New York, Mar. 23.
Cotton prices early receded on liquidation and stop-loss selling, but later rallied on covering and New Orleans buying At the close, quotations ranged from 1 to 6 points up from the previous final levels.
Bearish Singapore and London cables influenced the general weak-mess, in the rubber market, with values touching new low levels since November, 1935. Later, the decline was accentuated by the action of securities, general liquidation and stop-loss selling.. Buyers were reluctant to give their support, believing that no quota action is likely to result from the forthcoming meeting of the International Rubber Regulation Committee next week, However, it is believed locally.that the new low levels created to-day are not likely to induce a quota amendment, At the last call-over, losses from 40 to 43 points were recorded.
1n response to the easiness of major commodities wheat prices in Chicago moved lower. The lack of substantial export demand was an unsettling factor. At the final bell, quotations ranged from ¥% of a cent. down to ¥% of @ cent, up.
Sugar prices sagged to-day on active foreign selling, liquidation hedging and uncovering of stop-loss orders. At the end of the day's trading, losses from 2 to 2% points were registered.
New York Cotton New York Rubber May 861-62 +01 July—8.80-69 +04 Oct. 812-72 +06 Dec. 83-13 446 Jan. 875-77 406 Mar. 816-16 +03
May 1289-89—46 July 13.00-02—47 Sept. 1315-18—43 Dec. 1337-98—40
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