Stock prices regained yesterday's losses in the General Averages in one of the lightest sessions of trading recorded since September 22. London stocks, including American issues, rose higher in the last three weeks of January by 112 per cent. above the corresponding level of 1938. Commodities moved within a narrow range, but sugars showed a tendency to ease.
The bond market ruled higher, with United States Government securities advancing io some of the highest levels recorded for the year, whilst]... the advance of Japanese issues featured the foreign section of the market. Curb stocks moved irregularly higher, while the foreign exchange market presented a steady appearance.
By Courtesy of Swan, Culbertson & Fritz "Up to mid-week, prices on Wall Street, as compared with the pre-4|vious period, moved within narrow limits, being influenced primarily by political rather than economic factors. The eagerly awaited speeches of Mr. Chamberlain and Mr. Hitler—more especially the latter—were favourably received and interpreted as being somewhat relieving to the European situation. The market's response was gains of two to three dollars on both Mondays and Tuesdays sessions, with profit-taking quickly absorbed. On the lowest volume since September 22, Wednesday's trading was sluggish and despite the maintenance of encouraging business news persistent dribbling liquidation caused a slight reaction. Volume was again light on Thursday, occasioned by a Bank of Japan Gold Reserves Osaka, Feb. 3.
The gold reserves of the Bank of Tapan yesterday totalled 501.287,00 Yen, same as on Thursday last week ud 801,002,000 Yen on February 3
^st year.
This shows no change as compared with last week but a decrease of 799,715,000 Yen from last year.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.