Shanghai, Feb. 3. mildly reactionary tendencies, stocks General: After, three days, of [showed renewed strength with the jrecumption of trading on Monday when the market closed Tuesday both the industrial and rail averages had reached new highs for the current advance. Industrials had in fact broken fraction-through their July, 1982, resistance level and were at their' highest figures since November, 1031, Rails, however, still held below their September peaks, to say nothing of their July' heights but} were displaying relative strength to narrow the gep between them and industrials. "A" moderate reaction, Joesurred on Wednesday but the fixing of the gold price at $35 an fouree representing a devaluation lof the dollar to 59.05 per cent. of former value after the market used caused a recovery on Thurs-Jday wherein industrials regained practically all of the ground lost the previous day while rails and tilities established new highs since September. Bonds gained. steadily' Jamt reached their best prices since
Text read from the printed page and cleaned; old type leaves the occasional error.