By courtesy Swen, Culbertson & Brits Shanghai, Nov. 18.
Utter confusion still persists as to the Administration's monetary policy and reflecting this uncertainty market movements during most of the past week were contradictory and very perplexing. ~The dollar Readily depreciated to its lowest novel in over sixly eight years with the price of gold rising Soimeditee penraliy rependel the weakness, bat until Thursday modities generally res stocks were depressed and steady Sagging was recorded. ven the called commodity stocks exhibited tittle strength and while silver was advancing appreciably. such issuer American Smelting "and Amer~ can Metal berely Held stead Utilities were adversely affected bs the action of the California Railroad Commission in ordering Pacific Gas and Electric to reduce rates and the maintenance by American Tel of its regular dividend, rate was offset by the omission of the former stock dividend on Ele; Bond and: Share common. The announcement on Wednesday that an jefnite leave of absence had been ranted Secretary of the Treasury joodin, avowedly for health rea-fons, and that Dean Acheson had resigned as undersecretary was con~ strued as an indication of a in the Administration's policy toward inflation, and on The! stocks belatedly responded to trend by staging the best rally of ure of the previews two days mug fluted ths poe ibity ti: stables:
of the Golar may be imminent. Business nows daying the meek was Feasruring but the franco! outlook which is Sil the dominant market Tnftuence needs aniteation, Activity nul Thursday with trading largely confined. to professional operaifons nul Tiuraday' with trading
Sat the volume of wansactiony on thas!"day suggested widespread public buying.
Text read from the printed page and cleaned; old type leaves the occasional error.