On the Stock Exchange today rails were affected by-the failure of media: tion over the rail wage dust Activity in the market was restrietec by the approach of the Labour Day holiday. Operators showed a tend ency to hold aloof, pending Herr Hitler's Nuremberg speeches. Meanwhile, war fears have subsided both here and abroad, while the trend of the London Stock Exchange is becoming more normal, Pavourabte factors today included construction awards moving higher; anticipations of carloadings touching a new high: D. and, the upward tendency ci Bank Credits being noted. Unfavourable factors were: weaken z of crude oil prices and further cisciines in Bank clearings.
By Courtesy of Swan, Culbertson & Fritz Europes developments overshadowed all other factors on Well Street, as good trade news was ignored during the current period under review. Prices y suffered their most since March, from abroad ca vulnerable "position. Losses up to 5 points with volume and selling frequently clogging the tickers. Slightly steadier conditions prevailed until just before the close. when a fresh burst of selling prices to the day's lows.
Stocks responded to better foreign news on Tuesday, though acti was conined chiefly to professional operators. Although some of the previous day's losses were partially recovered. there was little follow-through buying. Wednesday's and Thursday's markets were narrowly irregular with trading again on a much reduced scale. as most operators preferred to remain on the sidelines pending the outcome of events abroad, and until after the Labour Day holiday.
Commodity prices, as gauged by the Dow-Jones Index, fluctuated in a very narrow range. Featureless but heavy conditions prevailed in wheat trading, both at Chicago and Winnipeg. In spite of Government sub-
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