London, Nov. 1.
Mr. Montagu C. Norman, of the afomimlice nag een established Bank of England, to protect the interests of bond-holders of Chinese Government railway and other loans, recording to a statement issued to-
The committee, says the statement, hay been formed as a result of the visit to China of Sir Frederick Lelth-Ross, Chief Economic Adviser to HM. Government. is composed of Ave members. Lord Alness is chairman, the other four members being Mr. 0. J. Barnes, 'Mr. E. Allan Cameron, Mr. Maurles Holy-Hutchinson and' Mr. Charles Hendry.
The purpose of the committee will be to provide an organization which will be -avallable, in. case of need, to negotiate on behalf of holders of Chinese Government railway and other loans with a view to protecting their interests, Courtesy of Swan, Culbertson & Fritz, Quotation by Reuters, Shanghel, Nov. 2.
On Saturday, the 26th, the Dow-jones industrial average' reached a high since August 1931 though rails and utilities stil held below their September and August, peaks respectively. Heavy profit-taking in the recent favourites, especially the automo-[bite Issues, then caused a reactionary tendency accelerated by the third quarter earnings report of the US. Steel Corporation which fell considerably below expectations. Ralls declined in sympathy with industrials despite the fact that the net operating income of twenty-six carriers for September was 52.5 per cent. above that for the same month last year. The recession was a mild one and with the ald of a slight recovery on Thursday, the net result of the week's trading was a fractional improvement, Utiles were the best performers in response to the largest electric power [production report in history. Trading was at a fairly active pace though the dally turnovers were considerably less than during the previous week,
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