Shanghai, May 19. General: Last" week the stock market was probably more influenced by the adoption of two separate bills by the House and the Senate to control the Stock Exchanges than any: other one factor. The bills passed, differed in important respects from tone another and during the period reviewed an attempt was being! made to reconcile these so that a compromise bill might be voted upon. The most important differences between these two were one, margin requirements and two, th delegation of authority to control the exchanges. In the bill passed by the House, the Federal Trade Commission was given supervisory authority while definite margin requirements: were embodied in its' provisions. As: assed by the Senate the bill provided for the supervision of "the Stock Exchanges by a special comis-sion and made no mention what-
Soever of margin requirements. President Roosevelt has let it become known that he favours stringent margin requirements and it is now] generally expected that the bill in its final form will approximate that passed by the House rather than the measure passed by the Senate, The Market in Figures J. Average for 30 May 1011 Cha
TIndusteiais 6301 9598 up 207 pug. Average for. 20
863
2394 up oan of 15
12 of 30
Credit: Muney conditions in general showed little change, interest rates were on the easy side. It reported thit a bank had loaned a large amount of time money at 1 per cent. per year which marks a new low. Call'money continued at 1 per} cent. and 30, 60 and 90 day bankers' acceptances-stood at % per cent. Brokers' loans were down $5,000,000 fat $975,000,000. The stock of monetary gold was off $3,000,000 at $7,783, 000 and the Federal Reserve ratio was up.1 per cent. at 688 per cent.
Commodities lea go Wheat Winntpes Wheat Boome SUVeE seserssssesess MHO 45:02
Text read from the printed page and cleaned; old type leaves the occasional error.