London, July 23. Very active conditions were witnessed on the London foreign exchange market this morning.
The arossrate on New York opened with a loss of three points from yesterday's New York on London close to 498.15, while a further decline of 43 points an hour later, followed by another drop of seven points shortly after, brought the quotation to 49769. At 1 pin. a slight rally occurred and a gain of twelve points to 497.77 was recorded.
After opening with a sharp drop of 38 points to 133.18, French francs advanced thirteen points at 11 o'clock to 193.31, but lost another six points twenty minutes later to 13325. At the time of going to press a gain of nine points set the rate at 133.34.
At the daily fixing, bar gold on the bullion exchanged advanced 3\4. to 139/10d.
Quiet conditions prevailed for silver, with "spot" and forward listed at 197, d. and 19429. advances of id. and 4d. respectively, India and speculators bought, while less was small.
Rubber ruled easier ths morning. At 1 o'clock there were buyers for Oct/Dec. option at 8180, per lb, down 4d. from the previous closing level.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.