New York, Sept. 8.
Trading in the cotton market was early more active, and the decline to 8 cents checked hedge-selling and attracted trade price-fixing and foreign and local buying. Later, prices advanced further on more favourable European news and the firmness of stocks. Finally, the market partially reacted en profit-taking and closed steady, with quotations ranging from 8 to 11 points up.
Prices in the rubber market today early ruled quiet and displayed a tendency to gradually drift down. Later, the market rallied on covering and a local and commission house demand, which was inspired by operators expanding operations. At the last call over, gains of 4 to 6 points were recorded.
Wheat prices in Chicago early touch-*|ed new lows on liquidation disappointing foreign markets and the renewal of Russian pressure. Later, the market rallied on rumours of an increased demand for domestic wheat and a corresponding interest "in foreign wheat, while the reported oversold condition of the market and the strength of Wall Street were additional favourable factors, At the final bell, gains of % to % cent were registered.
In the sugar market European and commission house selling met with trade and operator buying, while the continued inactivity of London tended to depress sentiment. At the close, quotations ranged from 1 point down to a % point up.
Interest in the silk market was early very slack, due to the weakness of the spot market and general uncertainties. Later, prices advanced on the firmness of stocks, more favourable European developments and scattered commission house and local buying. Closing quotations were from 1% to 2 points up.
New York Cotton New York Rubber 8.06-06 16,36-36
811-12 16.37 B
810-10 1645-41
8.08-08 16,50-55
8.06-07
8.06-07
New York Sugar No. 4
Text read from the printed page and cleaned; old type leaves the occasional error.