New York, June 5.
Trading in the cotton market was early active, with near months ruling firm and more distant options steady, on good Bombay and Liverpool cables, new buying and covering. Later, the market further advanced on' the strength of spots, higher southern advices, combined with continued good cloth sales, Closing quotations ruled from 8 to 14 points up, compared with the previous close.
There was little interest shown in the rubber market, with the narrow price changes reflecting the apathy of traders. The market opened about unchanged, and, at the close today, losses from about 1 to 4 points were recorded.
The more favourable weather con: ditions now prevailing, the weakness of Winnipeg and improved crop prospects: brought about heavy liquidation and profit taking. At the final bell, quotations ranged from 1% cents down, New York Cotton New York Rubber July Oct.
Dec. Jan.
Mar.
May 9.17-18 414 July 16.35-35 +04 833-33 +08 Sept. 16.39-39 +02 813-19 +11 Dec. 1641-45 404 B/A.
Mar, 16.45-50 +01
7.96 N -H0 B/A, New York Sugar No. 4 New York Silk July 124-26—02 July (No. 1) Sept BAB Ya +10 11134-12 une.
Chicago Wheat Chicago Corn July 7574-15%—1%% July 50%-50%4—'4 Sept 7534-7556—I% Sept. 51%4-51%—lg Dec. 70%-76%4—1i2 Dec. 52-521%—3e Federal Reserve System New York, June The Board of Governors of the Federal Reserve system, in their report for the week ended May 31 respecting the entire body of reporting member banks of the system, reveal an increase on total loans amounting to $1,000,000 compared with. the previous week, but a dec ase of $208,000,000 from the corresponding period last year. Investments show increases of $1,006,000,000 over last week and of $1,352,000,000 over the corresponding period last year.
Loans during the period under review totalled $8,126,000,000 and investments $13,554,000,000.—Reuter, U.S, Steel Mill Operations New York, June 5.
The American Iron and Steel Institute, in its weekly report, places steel mill activity for the week commencing June 5, at 54.2 per cent. of capacity. This represents a gain of 2.0 per cent, over the previous week and of 28.0 per cent. over the corresponding period last year.—Reuter, Germany Has Ne Rubber Process Washington, June 6.
The Department of Commerce ai nounced last night that Germany has developed a new process for manufacturing synthetic rubber.
The announcement said Germany expects eventually to compete with eaters! rubber products—United res
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