New York, Oct. 26.
The cotton market ruled inactive and featureless, with prices early moving slightly higher on foreign buying, but later reacted on some liquidation and southern hedge selling. At the close, quotations ranged from 4 points down to 1 point up from yesterday.
Rubber prices -steadied up under the leadership of absorption, accredited to factories, which found offerings mixed. At the last call-over, gains from 9 to 14 points were recorded.
Early easiness in the Chicago the weakness abroad, coupled with evidence that foreign importers are at present well supplied. Later, liquidation, excellent Argentine crop prospects, the dearth of outside participation, the slowness of the flour demand and fears of the renewal of French offerings offset the unbroken drought conditions in the south-west. At the final bell, losses from % to 14 of a cent were registered.
In the sugar market, commission house and local buying met liquidation and hedging, reflecting a quiet and featureless market in London.
At the close, quotations were unchanged to % a point down from the previous day.
Steady conditions prevailed in the lk market, but the market was slow, owing to the lack of incentives and the quietness of the spot market, activity in which chiefly consisted of evening up of October option. The closing was very quiet, with quotations ranging from unchanged to 1% cents down from yesterday.
New York Cotton New York Rubber Dec. 848-49 unch, Oct. Jan. 840-40 +01 Dec. Mar. 838-38unch. Jan. May 823-28—0l Mar.
788-08—O4 1695-95 +10 170A. 412 1702-0 +14
July 811-12—0 May 1699-708 -+09
New York Sugar No, 4—New York Silk Mar. 099-99—iMay 101-0134—ts
B/A B/A
Text read from the printed page and cleaned; old type leaves the occasional error.