By Courtesy 5. D. Wong & Ca.
Shanghai, May 30.
Quiet but firm was the Chinese Government Bond) Market during the month of May which officially closed yesterday with net gains of about @ point and a half as com-Pared with the April closing. Transactions totaled 283,000,000 for the four weeks.
Despite a none too rosy outlook at the time of the April settlement, the month of May opened with daily advances in smell fractions for several days. The pace could not be sustained, however, for toward the latter halt of the rst week there were signs of weakness as the market declined slowly but steadily.
The next two weeks found the market in the grip of extreme [dull trading. Movements recorded amounted to small fractions only as oth tne bulls and bears held their hands to await opportunities for an attack. Suen opportunities never come, however, and for the rest {he month fluctuations were guided [entirely by the prevailing demand and supply for setting off outstanding positions.
Thus the market moved in a sea-saw manner during the second week 70 which closed at practically the same level us it opened. Activities increased very slightly at the third week when small gains were reeord-
It was generally expected that the last ye days for May trading would find greater volumes of transactions as outstanding positions were being Hiquidated at the last moment. expectations were unfulllied in tnat the usual excitement at this time of the month never took place although for one day the turnover did reach 20 millions. Born longs and shorts had their shares of trouble, though mildly, as they tried: to get the best prices before it was too late.
Following the removal of May quotations on the 26th, the market maintained noticeable firmness though trading was quiet. On Monday the 28th, the last day of the month, gains in substantial fractions Were registered as the result of much buying by small speculators.
During the month under review, 6 per cent, Consolidated advanced Most rapidly, its gain being 2.90, with Menabiiltation a poor "second with 1.85. Despite the quietness and small daily movements, fluctuations were fairly wide as several issues showed variations of more than three points betwen the highs and tows. Salt Revenue, as usual, cupied first place for turnover, more {han 44 millions of which changed Following is a tabulated report of the market:
April Compar- Fluctua- Transae-Issue Open igh
Text read from the printed page and cleaned; old type leaves the occasional error.