Cotton Trading Quiet With Irregular Price Movements
Cotton trading in New York was quiet with prices moving in an 8 to 10 point range. May faded to 12.22 after early strength, October rose to 12.63 but closed lower, and overall market finish was steady to slightly lower amid limited offerings and ongoing trade buying and liquidation. Shipboard cotton awaiting clearance stood at about 129000 bales, down from last year. Delays related to the Bankhead cotton cow nill issue added uncertainty.
MENTIONED IN THIS ARTICLE
New York
House Agriculae Committee
Market Issues Register Drops
Stocks held to a reactionary trend with moderate losses overall. Rail and industrial groups showed a liberal distribution of declines amid caution in speculative quarters. Aviation shares stayed buoyant though gains narrowed. U S Steel and several majors posted about a point net loss.
MENTIONED IN THIS ARTICLE
New York
American Telephone
Douglas
United Aircraft
Aviation Corp
U. S, Steel
American Can
du Pont
Allied Chemical
General Motors
Chrysler
Sears Roebuck
Montgomery Ward
New York Central
Santa Fe
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