New York, Nov. 25.
Cotton prices early advanced on active trade covering of December, with only 49 notices issued, which were promptly stopped, chiefly for near acount. Subsequently, however, the market reacted partially on Wall Street liquidation of March and hedge-selling of July and October options, resulting in a further widening of December premium with the market later ruling very quiet. Finally, prices ruled barely steady, closing from 2 points up to 3 points down from Wednesday's close.
Conditions in the rubber market steadied in sympathy with advices from London and the favourable interpretation placed on the tyre statis-ties for October. Foreign dealers absorbed commission house liquidation, trade selling and switching. Finally, however, prices eased on increased commission house pressure and closed from unchanged to 5 points up, compared with previous closing quotations.
_In the Chicago Grain Pit, liquidation of December and the heaviness of Liverpool, in anticipation of increased Argentine pressure, had a depressing effect on sentiment. Minor bulges, together with the strength of corn and continued cold winter weather, failed to hold prices. At the final bell, quotations were from 5/8 of a gent to 1 cent below the previous close.
Sugar prices eased slightly on foreign selling, scattered liquidation and easier London cables. The offtake was poor. At the final call, the market eased off about 1 point compared with the previous closing quotations, The silk market was without trend today. The bulk of activity consisted of evening-up operations against, 77 notices. Switching of interest to forwards were negligible, owing to the quietness of the spot market and the further easiness of foreign exchanges, Closing quotations ranged from % to Wednesday's final levels.
cent down compared with New York Cotton Dec, 8.68-69 Jan. 849 N Mar, 8.4445 May 8.25-25 July—8.04-04
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