New York, Sept. 6
Trading in the cotton market wa early moderately active but pric declined on lower Liverpool cables. he weakness of sterling -and what. nervousness over the European polit tical situation and increased private estimates. The trade, Liverpool and New Orleans were buying, but there was sufficient hedging to hold prices to only partial rallies. Finally, the market declined further on increased hedging and liquidation and closed barely steady, with quotations ranging from 12 to 15 points down.
Prices in the rubber market early advanced on the steadiness of London cables, which encouraged com mission house and local buying. Subsequently, the market drifted-down on scattered offerings. At the last call-over, losses of 13 to 18 points were recorded.
Wheat prices in Chicago early slumped on the pronounced weakness of Liverpool and Buenos Aires advices and the disappointing progress of the Federal subsidy plan, which induced general selling and stopless orders. Additional unfavourable factors were keen export competition abroad, liberal Canadian marketing: and an increase in the visible suppl; At the final bell, losses of 2 to 21 cents were registered.
The sugar market declined on light scattered selling, liquidation and quiet London advices. At the close quotations ranged from 1 to 1} points down.
Since the reported imposition of silk export quotas by the Japanese Government is believed to be an effort fo sustain values, sellers on the local silk market have been caus hous. Traders, however, are generally awaiting clarification over the European political outlook. Closing quotations were from a cent 34 2 down to 1% cents up. d New York Cotton New York Rubber Oct.—799-96
Dec, - 803-04
Jan, 800-00
Mar. 197-97 May 136-96
—i2 Dec. 1631-33
—12 Jan. 1632-38
=15 B/A
—14 Mar. 1639-40 EU—15 May 1046-50
July 79555—15 B/A
New York Sugar No.4 New York Silk Mar. 1063-07—1 Sept. 170-716
B/A B/A
May 109-091—115
Text read from the printed page and cleaned; old type leaves the occasional error.