It may be some weeks before more than half a dozen or so export syndies have been formed, but several firms ha' ready begun to study the possibilities very seriously, and it seems likely that when once the movement has begun it will spread rapidly. The Cotton Board's announcement, it may be added, mentioned only syndicates for producing cloths, whereas it seems possible that a similar organization would prove useful for the disposal of cloth which has already been produced but which, for one reason or another, cannot now be delivered to the customer who ordered it. Many producers hope that the problem of stocks will be dealt with effectively before the strain of carrying them becomes excessive. sellers 12,—1; Liverpool Cotton: American Futures:
Oct. 7.50 43; 715 +l; Mar. 7.01 +2; May 690 +2; Egyptian Futures:
(Giza, F.G.F. No. 7) No. 2 Contract:
Nov. 11.85 +32; Jan. 1144 +22; Mar.
1114 +24; May 1083 +2 London Metal: Tin, Standard, cash, middle price £258%—19; 3 mths.
middle price £258%—1% London Gold: Bar Gold, Fine, per oz was alittle speculative buying. Offerings were poor. Business was small. Market steady. After the official fixing the market was quiet but idle.
Spot 234d.
Had. Forward Fid.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.