New York, Nov. 18.
Operators were more cautious in the cotton market, owing to the continued foreign uncertainties. Prices declined on Bombay and southern hedge selling, coupled with liquidation, while the weakness of securities acted as a retarding influence. At the close, barely steady conditions prevailed, with quotations ranging from 3 to 6 points down from the previous final levels.
With primary offerings very light, the rubber market steadied in sympathy with London advices and foreign and dealer buying. Subsequently, prices reacted in sympathy with the weakness of other markets and liquidation. Factories adopted a more cautious attitude. At the last call-over, losses from 12 to 23 points were recorded.
Failure of the Anglo-American Trade Pact concessions to stimulate a broader interest, coupled with the weakness of Wall Street, induced professional selling in the Chicago Wheat Pit. Some quarters are of the opinion that the constructive effect 2 of the elimination of the preferential duty has been nullified by the large surpluses of competitive nations. At the final bell, quotations ranged from to % cent lower from yesterday.
Quiet conditions were witnessed in the sugar market. Trade and producers bought, while shorts covered on steady London wires. At the final call over, gains from % to 1% points Were registered.
The silk market ruled easy on commission house and local selling, induced by the action of other markets. Later, importers and shorts bought, while a certain amount of switching appeared. At the close, 4 quotations were from 1 to cents 2 down from yesterday.
New York Cotton New York Rubber Dec. 860-60 Jan Mar.
May July 15.92-94—20
1593 M—12
1594-95—13 1588 B—23
145-06—o4 lew York Sugar No, 4
Text read from the printed page and cleaned; old type leaves the occasional error.