In their weekly report Messrs, Spunt & Ca. star China Cotton.—Our market during the major portion of the past week showed a firmer aspect in that prices gradually moved upward, evolving on the whole an advance of 30 cents per picul higher than that current in the previous rently have died down, there has [Petiod. This strength may be said ghnity London, Oct. 1, The Bank of England has reduced its discount rate to 4 per cent.
The reduction of the Bank rate dumbfounded City circles because the announcement has been made only two days after the Government accepted the Conversion Lean tender:
The result was a sharp rise in investment issues under the lead of gilt-edged securities and a hand-Some profit for brokers who made successful tenders for the Conversion Loan, If the price rise only one point, profit will be £400,000, in addition to their of borrowing money cheapen Demand "Telegraphic Transfer Demand Demand Demand Been UP to 3/34, The marke aa ce eae although in the meantime it has] reel, market, resulting nee mocrar e by higher rates ruling' in' the {2 lack, of contact. between the sail [4PPrcclation In yarn values, a" well,,7Pe, imekde icized as show-FR] Hctoated owing to ange sve: it ondy, nay, from, mon of moor maria, As to trade' eon Heanor' nail advices andthe tions in Yen by the speculators. culty also has been experienced with Gers tant heavy I it tions, the exports of the local staple wars of the Bank of England, ses] Mere ate cash sellers T. Tat 8/2 Hipmenty and good ceerances" of fcomtinued at a standstill; the ne. HR, & Fenltant heavy lows to the jad. and -U. '$773, and buyers.—tapa mand on the part of local spinners T*easurs 210] Quoted rates are:—Selling T. T.|'% Tu. at 3/240. and U.S. @78, peeks some firms. and 7 fe reported Vivas been of a very sparing nature, TRE Feduction was actually ex: 2s were only on a pected on Sentember 24 in view of 763] L7¢ a/aud,, U.S. $798.
E3/24dy, U.S. $774, Buyers 4 mm/s 338
Text read from the printed page and cleaned; old type leaves the occasional error.