New York, June 9.
Trading in the cotton market was early moderately active, and prices advanced on Liverpool cables and moderate trade and foreign buying. Offers proved small, and, with general rains particularly heavy in the west, prices advanced sharply on Wall Street, local and New Orleans buying. Finally, the market reacted partially on realizing but closed steady, with quotations ranging from 12 to 13 points up.
Prices in the rubber market advanced on a broader commission house demand and speculative, trade and shorts covering which absorbed dealer hedging. Akron demand, however, slackened. At the last call-over, gains of 31 to 33 points were recorded.
Wheat prices in Chicago early rallied vigorously on wide spread frost damage in the south-west, local and shorts covering, mill absorption, prospects of unwanted warm showery weather, excessive moisture complaints in Kansas and the unexpected strength of Liverpool At the final bell gains of 2!& to 2% cents were registered.
The sugar market today advanced on trade buying, covering, the absence of selling pressure and steadier London advices. At the close, quotations were from unchanged to 1 point up.
Activity in the silk market ear consisted chiefly of hedge selling, with trade and shorts covering and the action and firmness of other markets a steadying influence. Later, prices firmed on commission house buying. Closing quotations were from 1% to 2 cents up.
European currencies reacted on renewed political unrest in Europe. Meanwhile, rumours of dollar devaluation are still persistent, New York Cotton New York Rubber July 811-1 413 Oct. 815-15
Dec. 818-18 Jan. 818-18 Mar, 822-22
July 1200-06 +33 Sept. 1220-21 +33 Dec. 1234-55 31 Jan, 1240N. +32
The Bank of England statement for the week ended June 9 shows a decrease in public deposits of £13,- 140000 to £11,730,000,. while other deposits were higher by $8,210,000 to £146,530,000.
Government securities ware listed at £111420000, showing an increase of £1,740,000 over the previous week. Other securities totalled £28,110,000, including £7,940,000 on discounts and advances and £20,170,000 on securities.
Notes and coins amounted to £36,-
540,000, a decrease of £5,790,000 from the previous week's-figure of £42,- 330,000, while total bullion increased by £20,000.
Notes in circulation totalled £490,-
720,000, registering an advance of £5,800,000 compared with last week's fig The proportion of reserve to liability was given at 23.09 per cent., compared with 2594 per cent last week.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.