London, July 27.
Irregular condition were witnessed on the London foreign exchange market this morning with sterling reling firm in terms of dollars and barely steady in relation to francs.
The cross-rate on New York opened with an advance of four points from yesterday's New York on London close to 497.85, while a further gain of fifty points to 498.35 was recorded during the next hour. Shortly afterwards. a reaction of five points, with a further decline of five points at 1 o'clock, brought the rate to 498.25.
After opening unchanged, French ranes declined three points to 132.90 sri hour later, at which level the market remained steady for the remainder of the morning session.
Fine gold declined 2%d, to 139/6%2d.
Steady conditions prevailed for silver. At the official fixing, both pot" apd forward were quoted at 20d., down >d. and ted. respectively. China banks and India sold, while business was small.
The rubber market ruled barely steady. At 1 pin, Oct/Dec. contract dropped jud. to 8ed. per Ib.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.