Nanking, Jan. 21.
In view of the recent' sharp th tuations in the domestic bond market in Shanghai, the Ministry of Finance has ordered an official inquiry, int the activities of the China Merchants Stock Exchange, for which purpose Mr, On Chao-ying, section chief of the Ministry, has been despatched to Shanghai to ce-operate with Mr. Wang Hsiso-Ial, the Government Supervision of " Exchanges.
"The Jorder of the Ministry reads:
"Recently, due to repeated rumours, fyetuations in the Shanghai bond market have been numerous. Moreover, according to press reports, it alleged that Government officials ave been speculating and manipula ing the market. This is highly detestable if true. A. thorough and ruthless inquiry should therefore bbe promptly conducted, in order serve as a warning. to. those acti against the Taw. It-is imperative ig be eoncealed:"—Kuo Bin.
Stock Outlook: The Dow-Jones, industrial average covering stock groups which represent two-thirds Of the value of all common shares Tisted on the New York Exchange has fluctuated for over three months between a low of 13804 and a high of H844, a price range of less, than per cent. Presumably this indeter~ tnlnate trading range has constituted an area wherein the gains registered in ihe advance from the 1696 low. of asin Tost, March have been cote SGlidated. "Unless some bil for increased. taxation ig enacted, it appoor that the combination of cheap money, favourable business prospects Sate possbity of ination will prove sufelent to cause the next {wide market movement to be upward father than downward and further Secumulation seems therefore ware fanted especially during periods of market weakness.
Text read from the printed page and cleaned; old type leaves the occasional error.