Saner. conditions prevailed on the hiocal exchange market on January 7, although the official sterling rate at the Hongkong and Shanghai Bank remained all day-at-1/113, unchanged \srom, the. previous. day's close.
Diie- interbank sterling rate ope led at 2/0 and that for gold dollars fat 491, but these eased slight ly at the end-of the day, closing at 2/0% and 493. Gold bars fluetuated within much narrower limits Johan on the previous day, the highest price being 482 and the lowest 474: the market opened at 1477 and closed at 478.90.
'A Reuter report from London refers to the stabilization of the yen, saying that this will remove fan important source of speculative demand. This would seem to indicate that the activities of the local exchange would be considerably eur~ tailed, but an inquiry brought forth an emphatic denial. Shanghai's share of the "excessive stocks" of ver referred to in the telegram amounts to Tls. 200,000,000, held local banks,
Text read from the printed page and cleaned; old type leaves the occasional error.