By Courtesy Swan, Culbertson & Frits]
Shanghai, Oct SI. oaApart,, from 3 "sharp BtStocke" prices advanced Gluing' the" pact weeks Atte close trading on Monday, the Dow-Jones stock average was at ts lowest since October 2 but the fact that only ihe relatively small number of 1480, shares Rad changed during' the Gay suggested. that the selsbacks was largely technical and thereatter a Felofed Reutty warben soree their widest gaine for a single session since May on the helot that Governor London' chances of being elected President were lmprovite. The volume of ting increased 6 pees September, partially in sympathy with stocks and partially Because of the Jarge ginnings report, but later rallied. Wheat moved narrowly and was dominated by weather reports May both at home and abroad. Rubber Teached its highest figure since July when the International—Restriction.
Committee set quota for the first halt of 1997 at 70 per cent, an increase of only 5 per cent.
The business news continued good. Activity has been well sustained, earnings reports were almost uniformly favourable and a number of Increased and extra dividends were declared. The chief immediate threat to further improvement is the possibility of widespread labour dim culties especially after the elections, The political campaign is in its Anal stages and the rival presidential candidates are delivering their last address in the crucial states, the. electoral votes of which will probably determine the outcome. The Supreme Court indicated during the week its willingness to review most of the New Deal labour legislation.
The market, in figures:
Change up 141 up up 105.16 108.4 sieotete ay sera samen cestode Outlook: Disregarding tne ynsequences of a European War, th fossblity of which though unpredietable seems unlikely in the near future, the long term outlook for stock prices remains encouraging but immedi prospects are lest promising. While the outcome of the election will probably be close, the expected Yielory for President Roosevelt is.
ing " by—disappoint jew eto be the signal for some sll~ Dealers who have been stoutly hoping against hope for a London {rlumph and the higher quotations fare driven in expectation of the latter event, the sharper will be the consequent decline, The basic recovery in business will continue re-gardies of whom Is elected but the Seasonal peak has now been reached and if wide-spread labour troubles eventuate, the stock market is liable fo be temporarily depressed. Any such weakness, however,. In our opinion should be utilized for buying in expectation of prices gradually indy Cine Quan par ae aa aa Be
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