New York, Aug. 4.
The Stock Exchange: The stock market during the past week has Presented a very sluggish appea! ance and an early decline met a meagre demand on a scale-down in values, with the "uncertainty aura rounding the operation of the key odes in the industrial recovery pi gramme acting as a disturb ing me fluence. With traders watching the Jeading commodity markets very closely, the stock market later be~ came steadier in response to the Duoyancy of the grain markets. Moreover, unofficial Washington spirited demand, notably for the so-called "wet" stocks. The market latterly has ruled narrowly. irregular, with traders awaiting re-Percussions from the drastic. new rules introduced by the stock exchange authorities designed to prevent any repetition "of recent, [speculative excesses. Meanwhile, a period of quiet and narrow markets anticipated.
The fluctuations of the dollar have not attracted much serious attention, The Money Market: Easy. Callmoney has been quoted in the out side market at three-quarters of one er. cent, The Bonds Market: Quiet narrow.—Government marking time while allotments of the Exchange:—With the son in full swing, public Interest has. been further reduced during the past week, but the gen feral tone of the markets, especially fttteriy. has been very firm. The instantaneous success of the new Tour percent. £15,000,000. loan floated in London at par by Canada Particularly. stimulated. demand for British gilt-edged securities and the: upward movement in them was stined, while outstanding" features, among foreign securities have been a recovery in Argentine issues and the present strength of Far East fern bonds." The industrial. section ruled quietly firm. Oil issues uncertain. South African gold mining. shares continue a good frarket: "Rubber "shares "acter fave firmed up in sympathy wit the price of the commodity.
Foreign Exchanges:—The foreign exchange market has been extreme unsettled. this week and rates, especially. United "States dollars, have actuated freely owing Wied uncertainty due to. fur ther American inflationary rumours, Chinexe and Japanese rates are both 'The Money Market:—There has been 'a big Curaover this week but, with British Government and other big' dividend. disbursements. augmented by the Te-payment of part of the Prench credit, the. plethora of money available has been even more pronounced and the supplies have teen practically unfondable.
The Discounts Market:—Rates have one still weaker, irregular; eased following the announcement of an expensive ary programme by the' Japanese Government. Reuter.
Commodity Trends courtesy Swan, Culbertaon & Frits Shanghai, Aug. 5.
General: Stock movements have been rather erratic during the period under review though at, the close the market was only" slightly. under its levels of a. week ago. "Abrupt declines on. Friday and. Monday—the Stock Exchange was closed on Saturday—were interpreted. as ¥election hed presenting a normal secondary, re-
Text read from the printed page and cleaned; old type leaves the occasional error.