Quotatton by Reuters.
Shanghai, Nov. 23.
The stock market has presented very irregular appearance during the past week, but the net result. has been gains in all sections and the three Dow-Jones averages have all reached new highs for the movement. 'A slight recession was witnessed on Monday but these losses were more than regained on Tuesday and in the early' trading on Wednesday aso Fesult of favourable dividend announcements, Late in. the latter ses sion a deluge of profit-taking occa Sioned a sharp setback, constituting apparently a technical "correction Business: Previous Latest Times" Index operations of capacity) s 537 carloadings (carloads) 681,000 689,004 Electric power production (kew.hrs) *1,914,000 *1,909,000 [Automobue output Average dally elt Production (bois.) 2,802,000 2,951,000
Stock Outlook: Equities still seem headed for higher levels in the near future though sharp reactions due to profit-taking and the touching of of slop-loss orders will be increas Ingly liable as prices advance. Such thacks will probably prove shertlived and a position on the long side should be maintained thougi# new after the Jong advance, though there Luying should be carefully dis-renewed nervousness concerning criminating. From the point of view of market action, the recent strength possible devaluation by "the Gold fu the rails Is most encouraging Bloc. Selectivity. was evident and even en the decline several issues Monday's Closing Quotations Including Gold Dust, I. T. & T:, Radio, Transamerica, United Airlines and United Corporation advanced to new hhighs for the year.
'A wave of fresh buying "appeared on Thursday and alls staged their sharpest advance A since February 18, with dozens o: Individual stocks establishing new peaks.
'The commodity markets also improved. Wheat advanced on geod ill buying, strong cash situation, ud reports' of crop damage in the Argentine. Cotton dropped over, the week-end on profit-taking induced by the impending, court decisions on the AAA, but adverse weather in the Southwest and a favourable ginnings Feport Ialer caused recovery. "Rubber Suffered {rom December liquidation, apprehension over the possibility of revised export quotas and the easihess of the builder. Business reports were generally favourable and steel {Chesapeake Corp. Chesapeake & Ohio Columbia, Gas & Ele.
omit Solvents Sena. ge Sthrn, (Ord) Comm: & sthrn. $6 Cum, Pret Maing, automobile production and Consolidated Gos of RIY.
3 Electro' power output showed further Corgolidated (Oi Eoatinenta OF Peed The Market in Figures:
Now it Nov.21 Change Thursday Average for iJ. Average for 30 fodustlals M850 147.90 up 1.78 20 Ralls 9699 38.20 up 127 id. Average for 2067 up 09 Dat. Average for 9630
modity 52.00
97.05 up 83
Text read from the printed page and cleaned; old type leaves the occasional error.