Review of Activities of the Past Week By Courteay 8.
Wang & Ca.
Government bond}
turday, May 28 following trading or the recess for May settlement" on the previous day." From that time pou "Thursday," June" 2, for five Hucecssive days,' quotations advane-
Interest words, a concerted effort on the part of a certain group of opera~ {ors was being made to move prices for no reason than " that} progressively in one of the movement was desired.
This parti-phenomenal activities for which cular operation took the form of hat market is noted, and which bull attack. Buying orders were had. not, been evidence since the 4 din sudden volume to astound official reopening, early last month. unprepared market. But there!
Gur review of the bond market were shrewed and alert dealers on for May drew attention to the rethe floor who were generally a markable fact that. notwithstanding conmodating with their willingness the uncertainty and difficulties. fae-to meet a good part of the buying ing. the financial department of the demand.
National Government, the price of The immediate results at all Government securities had improv-events, were as desired, for the €d'to the point. where investments them at prevailing rates for felis of ant actions a around May wore. yielding about 15. per Sires more than! doable tat 30,000,000 for the period cover ly considered any similar period during the interest "that previous month should be" normally "expected of 'As the days passed, and prices ich investments, and therefore, 1 tinued {0 rie, sellers Increaved was noted, any pronounced advance number." On Fr'day they were prices, under' existing eireum-Clearly in the majority, "and "the stances, could not foul fest reaction aet in, cantinaing thing but artificial inflation, through Saturday by which time an On the first day of June trading] average—Tecession of over a point there were fractional advances had taken place, 'Whether this wil from 05 to.90 of point. After continue until effects of this the week-end recess on Monday the bull raid are equall cannot market rose from 10 to 240 points predict Certain more, Thereafter' quotations rose ug on Saturdi were on reactionally every day for three levels too. igh to yield the per-more time there had centage of interest' generally "ex-been added from 2.40 to 5.45 points pected. There is play ibility to the to the value of the Government Argument the responsible peopl internal bonds. The average ins custody of the abundance of idle crease was practically four points. money" which is now in Shanghai have decided to that money to Brisk Business some, use. It is mot however, a complete explanation, for it presupug the period of these rising poses that the sellers are Seeking to transfer idle cash into their own Stock Exchange was ard-hends. Besides, a four-point rise a plenty of idle mone i cone oho nants, teemed observers took the 7 ey seeking invert
Position that the monotony of an frnctive market "war paling on $30,000,000 tu in a period! extending over ven days is not an/ indi ion of innocent buying.
7 record of the first seven days of June follows:
Hed te fee CHER anaemia July 80.70
3085 085 clit 1B, cult soe Gti; 41.00 43 60
Text read from the printed page and cleaned; old type leaves the occasional error.