Shanghai, June 9.
General: The long awaited passage of the Fletcher-Rayburn Bill for the control of the stock exchanges in the United States was consummated on June 6 on which date it received the Presidential signature and therefore becomes a law. However, none of its provisions become effective before Oct. 1, 1994, As had been expected by many, competent observers, security prices rose, although not in as marked a fashion as had been pected. "All the Dow-Jones indices, Ted by the rail group, closed the week on the upside, 'Outstanding' in the news of the week was the Treasury's successful offering of $80,000,000 12-14 year 3 per cent. Treasury bonds and USS. 500,000,000 of S year 2% per cent. notes. These two issues were oversubscribed eight and nine times respectively. In Jaddition, the Treasury offered to enlarge the 3 per cent. issue sufficiently to refund all issues of Treasury notes and certificates of indebtedness mature ing in the next sx weeks. These total 'US$520,198,000. If holders of the last named issues take full advantage of the Government's. offer, this total naneing will exceed US$1,320,000,000, The Market In Figures D. J. Average for a '90 Tndustrals "9400 9472 up 22 Dag. Average for 20 Rails 290 4329 Clu. Average for 30 Utiten" "Se60 291 "T. Average for 07 115 up 8
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Credit! There was very little change in money" conditions. Cal money remained at 1 per cent. and 30, 60 and 90 day bankers" acceptances were steady at % per cent. 60 and 90 day time money showed no: change, standing at % per cent. and 1 per cent. respectively. 'The stock of monetary gold was up $24,000,000 at '$7,700,000,000, while the Federal Reserve ratio was up 3 per cent. at 69.3 per cent. Brokers' loans increased from $848,000,000 to 1,030,000.000, Commodities Thursday May June 7 Chicago Wheat 1 Winnipes Wheat Cotton wor Silk tans Rubber tat Sugar 138
Text read from the printed page and cleaned; old type leaves the occasional error.