New York, Apr. 18.
The cotton market early advanced. on developments over the holidays, the advance of the stock market and some Wall Street, foreign and trade buying. Later, prices reacted partially on liquidation, realising and 1|the action of today's stock market. Finally, the market once again rallied on covering to close steady, with quotations ranging from 4 to 8 points up from Friday's closing levels, The week-end strength of securities, inflationary implications and Washington developments encouraged speculative demand in the rubber market. Subsequently, however, quieter conditions prevailed on profit-taking and the hesitancy of Wall Street. At the last call-over, gains from 24 to 30 points were recorded.
At the outset, wheat prices in Chicago declined in beneficial] weekend rains, a lack of export demand and Jess damage in the south-west than was first reported. Later, the market recovered on the announcement of the Agricultural Adjustment Administration that a radical downward adjustment of the Spring wheat acreage was necessary, coupled ith short-covering and a decrease in visible stocks, At the final bell, quotations were from unchanged to Ts of a cent up.
Apart from May liquidation, sugar values advanced om Cuban and operator buying, covering and light Later, the market rallied in response to the prompt stoppage notices. At the end of the day's No. 4 contract showed gains from 4 to 2% points up from Fri-
Steadier conditioffs prevailed in the silk market today, although levels did not reflect the advance in Japan, owing to the hesitancy of Wall Street, chiefly on routine adjustments, Finally, the market reacted partially on importer selling. At the close, advances of!& a cent. were registered.
New York Cotton New York Rubber May 1276-8] +24 July 1300-00 +30 Sept. 1305-13 +20 Dec. 1331-42 +28 Jan.
Mar New York Sugar No, 4
New York Silk Sept. 0965-97 415
May 1.54B-55A
Chicago Wheat Chicago Corn May 84%-84%% une May 5974-90 July 824-895, +4 July 61-61%
Winnipeg Wheat—Montreal Sil May 12834-12674—% Closed.
July 1157-116 43$ A—Asked B—Bid—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.