New York, Aug. 18.
The Stocks Exchange: The weak-Jness of agricultural staple commodities has dominated sentiment on. the stock market during the past week and, early in the period under review, prices sagged. Business statistics, notably those re. ferring to the steel industry, elec wer output and ear-loadings, Jindieated moderate seasonal reces:
jons in operations. Moreover, the delay in adjusting the recovery jeodes to meet the needs of the steel justness has acted as an unsettling influence. In the middle Jof the week, however, a flurry of professional selling of stocks jot dislodge any important liquida-{tion and, coincident with a spect jeular reversal of the trend of leading commodities and the weakness Jof the dollar, which was attributed to a renewal' of demands for inflam tionary measures, a brisk broad rally developed. Leading issues reacted Jone to three points on Friday last jin sympathy with renewed weak: ness of the Wheat mark In the meantime, official state: ments in connection with inflation are lacking but, with the consensus Jof-opinion being that the movement towards recovery must mitted to lag too greatly, a Jof traders favour the bull side, At the same time, the immediate trend Jof the stock market depends to a. Large extent upon the action of lead-
The Stock Exchange: In spite lof seasonal slackness in business, Ca, the tendency in most sections during the past, week has continued good, gold mining issues especially. attracting fresh attention in view of the high price of bar-gold. British gilt-edged securities have ruled extremely quiet but, apart from weakness of Roumanian securities on the declaration of a moratorium on that country's foreign debt, foreign issues general have been firm. Chinese and Japanese bonds, particularly, have made further headway. Chief features in other directions have railways, leading industrial been a revival of strength in home
shares, stimulated by improving trade" reports. Oil and rubber' shares have remained very quiet spots.
Foreign Exchanges: Business has been' small this week, most rates moving against ster} The improvement in the United States dollar, however, to-day was by 'a report, from. the of Commerce," New York, fof the imminence of the establish: ment of a large exchange equalisation fond in the United States. Chinese and Japanese rates are quiet.
The Money Market: Funds have! been fairly useable, but supplies are still ample for all requirement The Discounts Market: display a firmer tendency.—Reut The Money Market: Dull and unchanged.
The "Boads Irregular. /Most foreign securities latterly have been supported.—Reuter.
Commodity Trends courterly Swan, Culbertson & Bute Shanghai, Aug. 19.
General A sweeping' advance on Thursday—the "sharpest since the initial rebound from the lows reach: fed. in the reaction of lave July—Fegained practically all the ground Tost during the previous market session and carried. industrials. to. new high for the current movement, Rails and utilities. showed. slightly Tess strength and recorded small losses for the week. The recovery on Thursday appeared due primarily toa further weakening of the dollar on. the foreign exchanges. which caused. a quick reversal in teading Sentiment. Earlier in the period inder review the dally movements had been irregular: and" fractional except on Tuesday "when" prices dipped abruptly. Activity "was again restrained but tended to ex: Dand'ag quotations advanced—an en-Couraging. indication. 'The absence of. any inflationary developments, {he seasonal dane busines and apprehensions as to the working out the industrial "were apparent the factors which, com-ned to produce the discouragement evident on both the commodity and stock' exchanges" early'in' the week.
The Market in Figures Average fo1 i lance Thursda Aug.10 "iT
Text read from the printed page and cleaned; old type leaves the occasional error.