New York, June 30.
Trading in the cotton market was fairly active and prices early advanced on Liverpool and Bombay cables, the phenomenal activity of the stock market and trade, Wall Street and foreign buying. Later, prices reacted on heavy realizing by New Orleans, hedging by spot houses, believed to be against low grades, and a generally fair weather report which also checked buying. Towards the close the market showed a tendency to rally, when selling tapered-off. Finally, the market closed' steady, with quotations. ranging from 3 to 5 points down.
Prices in the rubber market advanced at the outset on the strength of cables, higher cost freight offerings, broad covering and a trade and commission house demand. Later, the market reacted with securities, Allis the easiness of London advices, heavy profit-taking and European dealer selling, At the last call-over, prices ranged from 5 points up to 3 points down.
After being firm in sympathy with Wall Street and Liverpool advices, wheat prices in Chicago declined on reports of welcome rains in Western A; Canada, hedging against the new crop movement, the reaction of securities and continued favourable weather reports, At the final bell, losses of 1% to 1% cents were registered.
The sugar market advanced on commission house, trade and new buying, covering due to the prompt stoppage of 21 notices, the steadiness of London advices, the firmness of other markets and belated covering of Spotand July. Later, prices partially reacted on hedge-selling and liquidation. At the close, quotations ranged from a % to 1% points up.
Prices in the silk market early advanced on the overnight strength of cables, the buoyancy of securities, active short covering and a good speculative and commission house demand. Later, the market partially reacted on activity tapering-off, the let-up of demand from outside markets, increased offerings, professional realizing and importer and Japanese selling. Closing quotations were from a 1 to 1% cents up.
New York Cotton New York Rubber July Oct, Dec.
Jan, Mar.
8.710-70—05 July—1473N: +01 869-69—03 Sept, 145-85 +05 8.715-76—05 Dec. 14.90-92—02 8.717-17—05 Jan, 14.92-Bid—03
881-81—04
Text read from the printed page and cleaned; old type leaves the occasional error.