By courtesy S. D. Wang & Ca.
Shanghai, Aug. 6.
Due to rather unsteady trading, which at "tines actually became weakness, during the four. mid-week days of the first week of August, the Chinese Government Bond Market succeeded in registering only small gains despite a strong opening and a strong close.
The month of August, which off-dally opened on July 28th, started with great firmness. The first day atier the July settlement found the market gaining steadily in big frac September quotations "which
equally' firm, advancing after" the available on that day "were Avgust figures as trading proceeded.
Yet. greater strength was shown on Monday, July 30th, when me fuential banks appeared to boost the prices substantially. No less. than Seven issues rose by more than one point though the older issues were hot so popular and succeeded moving up rather indifferently.
After two days of advances, the market registered a mild reaction on the next day though not every issue joined in the decline. Nevertheless, the strength that characterized it on the "preceding days was entirely absent and in its place were signs of erratic trading. Movements lack regularity and speculators were hesitant in committing themselves.
'The market eased off steadily during the next three days, losses being especially heavy on' Wednes-ay. The receding movement. was greatly assisted by reports of the Red menace in Fukien and in those three days most issues were lowered by nearly two points. Nevertheless, the alarm was not sufficiently grave to result in anything approaching panic so that, with the easing of the tension on the Fukien front on Saturday, the market stiffened again to advance by big fractions.
As the result of the wide movements, differences between "highs and lows reached beyond two points for many. issues though net gains were in.no ease more than small fractions." In fact three issues closed slightly lower than on the preceding week.
Following is a tabulated report of the week:
Issue Open igh Low 10th Yr. Customs ats. "3930 2900 2030 Sept, 23.00 300 800
June Compar- Fluctu- Transac-Close Close "tson ation tons 230 4020 060 15,000] mo——ce Steel Age 4420 4525 4400 Sept. 4400 $8503.90
Aug 7960 #210 79.40
Text read from the printed page and cleaned; old type leaves the occasional error.