London, Aug. 11.
Conditions on the London foreign exchange market this morning were active with sterling ruling steady in terms of both dollars and franes.
The cross-rate on New York opened with a drop of five points from yesterday's New York on London close to 498.20, but rallied seventeen points to 498.37 an hour later. At 1 o'clock a reaction of ten points brought the rate to 498.27.
After opening with a decline of six points to 132.78, French francs advanced seven points to 132.95 during the next hour, at which level the market remained steady for the remainder of the morning session.
Bar gold gained a penny to 139/64.
Steady conditions prevailed in the silver market. At the official fixing, pot" and forward were quoted up 7d. and unchanged respectively. America. bought ' and bears covered, who speculators sold.
Rubber ruled steady. At 1 o'clock there were buyers for Oct./Dec. delivery at 9d. per Ib., unchanged from the previous final level—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.