New York, Oct. 17.
The cotton market opened steady, but later firmed up on speculative buying, bullish support, higher Liverpool cables and the strength of Wall Street. At the close, quotations ranged from 8 to 14 points up from final levels.
Trading in the market for raw rubber futures was rather active. Overnight buying orders pushed prices up at the initial call-over, while subsequently the advance was accentuate ed by the strength of securities, foreign buying and a good primary demand. Closing gains from 16 to 40 points were recorded.
Active conditions were witnessed in the Chicago Grain Pit, with wheat values ruling firm. European war news was a sustaining factor, while the unrelieved drought situation caused shorts to cover. The cash position continued to be favourable. At the final bell, quotations were from 2 to 2% cents up from yesterday. n New York Cotton New York Rubber
Text read from the printed page and cleaned; old type leaves the occasional error.