Shanghai, May 25.
Trading activity was on a down ward grade again during the past week, and the volume of business had diminished considerably, A very steady market was maintained during the period under review, The. strength. of the short commitments was about the same as that of the long.
News of definite arrangements being made to Increase the gold and foreign exchange portion of note reserve by the Chinese Government, Induced heavy buying in the auctions, oreing the price up to $1145 but profit-taking by overnight longs on large scale at this stage caused it to drop sharply to $1,139 at the foMeial opening, and to $1,136.90 soon fatter, Heavy selling on the part of Jeertain speculators was also respon~ sible for this drop, Later the market became steady, with fluctuations Jeonfined to between $1,139.60 and $1,187.90 for the rest of the day.
The market continued to be quiet jon the following two days, but the trend was slightly bearish, The price sagged to $1,135.00 during the earlier portion "of the mid-week Session, but toward the end of the day short profit-taking lifted the price back to $1196.90.
During the morning session on thursday a fairly dull market prevailed, with the price practically Motionless at the opening rate, $1,136.70, but toward noon buying Activity commenced and the price financed to $1,137.50 at the end of the morning. " Certain speculators continued to buy in the afternoon, forcing the price up to $1,130.20, but profit-taking caused a small decline to $1,138 toward the closing.
Excessively dull conditions were seen again on Friday, and the ma ket moved over an Insignificant range of fluctuations only, between $1,139 Jand $1,137.30. Trading continued' to be dull on the following day, with the market slightly lower than the previous closing.
Text read from the printed page and cleaned; old type leaves the occasional error.