New York, Mar. 30.
After early steadiness on higher Liverpool cables, the cotton market reacted on liquidation resulting from the weakness of securities and the continued uncertainty in Washington, closing 3 to 6 points below yesterday's final levels.
The market for raw rubber eased in sympathy with Wall Street and on a lack of support, futures finishing 14 to 19 points off as compared with the previous closing quotations.
Wheat futures in Chicago advanced in quiet dealings on the firmness of 6 the foreign markets coupled with a favourable cash demand and some short covering. At the final bell, showed net gains for the day ranging from % to % cent per bushel.
New York Cotton New York Rubber May 805-05—03 May 1586-87—19 July 785-85—05 July 1587-87—19 Oct. 758-58—06 Sept. 1587-87—14 Dec. 75242—06 Dec. 1587-89—19 Jan. 753 M 206 B/A Mar. 7.61 M—94
New York Sugar No. 4 New York Silk May 119-1944 May (No. 1)
July 118-19 unc.
B/A 213B-14A.
Chicago Wheat Chicago Corn May 68-68 Ts May 4778-4724 +14 July 8770-08 +% July 4959-4952 Sept. 681-689 Hi Sept. 509-509
Winnipeg Wheat Federal Reserve System Returns The Board of Governors of the Federal Reserve System, in their report for the week ended March 29, respecting the entire body of reporting member banks of the System, revealed no change om bills bought as compared with the previous week and the corresponding period of last year.
United States securities held also were unchanged from both last week and the same week in 1938, while Federal Reserve ratio was higher by 01 per cent. over last week and by 4.1 per cent. compared the corresponding week last year.
Federal Reserve bank credit, jas compared with last week and the corresponding period in 1938, revealed an increase of $5,000,000 and a decrease of $9,000,000, respectivel Monetary gold stocks were higher by $85,000,000 over those of last week and by $2,366,000,000 compared with the sam period last year.
Industrial advances by the Federal Reserve declined by $86,000 from the preceding week and by $3,172,000 from the corresponding week in 1938.
During the period under review bills bought totalled $1,000,000; U.S. securities held $2,564,000,000; and the Federal Reserve ratio was placed at 84.6 per cent.
Federal Reserve bank credit amounted to $2,578,000,000; monetary gold stocks $15160000000 and industrial advances $14,005,000.—Reuter. may
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