Wang & Ca. also had a hand in pushing the market its present high levels. With all these influences at work, yet without tone menacing cloud on' the horizon, there could be but one consequence record prices.
'The market opened on June 21th with a resounding crash as the Kuramore incident threatened serious Sino-Japanese developments. the bears' hold did not last, however, for a remarkable recovery was staged on the next day, followed by bullish tendencies on the 13th as the incident longer was a mystery. The market eased off slightly on the 14th but again advanced on the next day when shorts bought heavily for cover. The festival adjournment closed the frst week.
The second week opened with renewed strength with Currency and 6 per cent. Consolidated leading the others on a mad rush upward. The pace slackened on Tuesday with mild reaction for several issues followed by considerably easier: rading on Wednesday. On Thursday and Friday it again went on its spree to register heavy gains of more than one point though another reaction sent it lower on Saturday. Before trading kelosed on the last day, however, it Fe-asserted itself, giving ample cause for optimistic. expectations.
Following is a tabulated report of the market:
Last Compar-Fluctu- Transae-Close Close ison ation" "tions 273 2930 4045 090 515,000
4190 70 4110 285 2,008,000 125 20 F095 250 080,000
719 1305 4235 510 7520000] 1100 7 [230 $6—11'370,00
4970 4500 4070 215 3,088,000] 400 425 toss 3.76,000
025 4055 2,388,000 20 50 for '380,00
330 s240 "4090 5,128,000 e290 o1a3 F135 88,000 sas 5140 42.05 11638,000 8220 1080 200 1110,000 so70 455 4215 '3.530,000 $590 408 fins 2380.000
$575 4220 14310.000 si10 30 Tis 19380,000
00 e440 43.00 4,025,000 flo 430 }3.60 12585,000 tional commercial relations, because nobody could believe that Germany would take it lying down.
Undoubtedly, Dr. Schacht continued, the ' establishment of a clearing-house in Great Britain would seriously affect the trade of the British Dominions with Germany Dr. Schacht then suggested three remedies for the present situation Colontes Wanted The return of Germany's former colonies, which would enable her to pay for raw materials im ner own currency; Germany must be" given an opportunity for increasing her exports s0 as to enable her to pay her debts; Reduction of the capital of, and Fates of interest on, Germany'
debts.
Dr. Schacht emphasized that Germany's currency would never be me lated. 'The German Government, he said, was determined to maintain' the stability of the Reichsmark and de lation was out of the question.
Meanwhile, says Reuter from London, one of the main objects of "The Debt Clearing Offices and Import. Restrictions Reprisals Bill," which will be debated on the second reading in the House of Commons on 'Monday, will be to empower H. M. Government to prohibit or restrict foreign imports in retaliation for quota restrictions discriminating against, or specially detrimental to, British' goods, This will enable H. M. Government to deal with any restrictive retaliatory action by Germany against British trade owing to the establishment of an Anglo-German clearing office.
It will also enable the imposition of quotas against any other country which applies restrictions specially detrimental to British trade—Reuter, (See page 483)
Text read from the printed page and cleaned; old type leaves the occasional error.