By courterly Swan, Culbertson & Fritz Shanghai, Sept. 1 The action of the stock market during most of the past week has sadly belied "its encouraging \per= formance just atler the Labour Day holiday when the penetration of previous upside resistance levels on an increased volume of trading engendered expectations of a. further advance. "Instead, the averages de-lined for five successive sessions and despite an unconvincing technical rally on 'Thursday, all sections show net losses for the' period under review. 'Though some profit-taking was evidence, the main reason for the weakness was the European situation, 'The Spanish civil war is. still at a deadlock; the exchange of defiances between Germany and Russia gave rise {o some apprehension; and' the position of the French frane Is in-
Text read from the printed page and cleaned; old type leaves the occasional error.