By courtesy 8, D. Wong & Ca.
The month of January proved to the an exceedingly heetig one on the Government Bond Market. Comple-rely upset at the beginning of the month, ed broken up by the Western and Lunar New. Years, the market nevertheless asserted" its stability by recovering a considerable portion of the heavy losses it sustained as a result of further Japanese aggres in the North.
While the market was closed in ion of the official New Year, ese troops captured Shanhai-Panic was spread among the and speculating public. as circulated 6 the effect that the Japanese also contemplated the seizure of the Peking Tientsin area, and upon the re-opening of the exchange on Januiry 5, all issues were sold short heavily Trading day when four points, allowed by the regulations govern. ing the wanket. Prices. continued but'begnn to recover slightly afte go down forthe next two days,
that as the situation inthe North quietened, Nevertheless, the entire Fist was off from 3.45 to 6.00 at the end of the first week, Disbandment was the chief sufferer in this period, and its loss in the first, week alone was sufficient to carry it through the entire month as the heaviest loser. Transactions in this period amotinted to $93,000,000, over two thirds of the entire' month's business, Trading became dull after that uncertainty and apprehension Fegard to the situation in the North, and. the approach of the Chinese New Year holidays caused traders adopts polity of watch tal walt January, 21, marked the lack of in" torest shown in bonds. However, the market was fairly firm, with gains outnumbering the losses in the final week." Trading was "exe tremely light, and. the total sections amounted to only $36, 589,000.
At the conclusion of the month' business, the entire list was down from 2.40 to 6,80, while the fluctua tion ranged from 1:00 to 9.80, Diss Dandmeng bore the brunt of the decline fluctuated the traded and placed 20th Year Customs ox third in trading, breaks months the Usual order mbineained ing up for the first time in
By Salt Revenue, Consolidated "ex, and 20th Year Customs, "The turnover for the month mounted to $192,494,000, which does not make poor showing in view of the fact that there were Jess than.' three weeks of active trading.. The market was closed £or four days in celebration of, the Western New Year, and. business for the month ended on the 2ist, trading, causing the less of a full week's
On the whole, the behaviour, of {he market was Father encouraging, The we New Year days gen-rely result in a weakening of the market fas year-end settlement obligations make their demands for Exe fended "holidays also cause the Iiguidation of positions and depress the market, "That these factors, coupled with the unexpected aggress Sion of the Japanese in the North, fand its consequent short selling om the market, did not depress the bends more' than they did, is-evide fence of the firmness of the markets "Giight changes in, quotations in the closing week, which ended The record for the month off January follow High Low par. Fluctu- Tranance fron ation tions 240 4.00. 1,280,000
Text read from the printed page and cleaned; old type leaves the occasional error.