[By Courtesy of Swan Culbertson & Fritz Shanghai, May 12 psSenera: News that the House representatives had passed the Fletcher-Rayburn Bill for the control of the Stock Exchanges caused Pronounced weakness in stocks lst week. "A. growing realization that {is passage war likely in the Senate without snporil' medications Caused Miguidation of a" good man weak accounts. Silver" news "was also an important factor in last jock's markets, This was rather mix ed but many felt that although the passage of some. mandatory. silver Tegislation was likely, its effect on stocks and commodities would not be such that " strong upward move: ment of these equities Based om this ews would be" immediately" wite 'As mentioned above stocks dispel market "weakness during the Derlod reviewed. The resistance of he Utlity group to pressure was partic ularly "noticeable. During the last few' weeks on a percentage basis it has led the averages on the down, side—last week it yielded. this une enviable position tothe rails. The Swing to the right which one can Sense. by reading various. financial Dublications received from the United States will undonatedly have its effect in the important" matter of! utility regulation.
Text read from the printed page and cleaned; old type leaves the occasional error.