By courtesy Swan, Culbertson & Fritz the increas Stns, July Increasing seriousness of the" raught and the of labour troubles in the steel Industry combined to cause a heavy tone on the New York stock market Eh when it reopened on Monday after the Independence Day holiday and by the end of trading on Tuesday the Com Dow-Jones averages had registered their widest two day recession since early June and" were back to their Go levels of nearly three weeks ago. 'Steel shares were notably weak while G2, Predicts farm equipments and the granger' rails were under pressure. © These Josses were, however, generally recovered in a rally which began on Wednesday and continued the following day. Intact, at the close on Thursday the utility average was within.01 of ita highest gute for the year while rails were at their best! Tevet since the April reaction got under way. The volume of trading expanded encouragingly on the advance and 1,280,000 shares changed hands on Thursday, the largest single day's turnover for two weeks.
'The commodity markets' were again the centre of speculative interest and many traders are reported to be operating thereon in preference the security exchanges. An excep~ tionally strong tone was evident and the Dow-Fones index established 12° another new high for the year on Thursday. As a result of the drought, wheat advanced the full limit of 8 cents on Monday while corn rose 4 2 cents and another 3 cents on Tuesday. Cotton reached its best price for more than a year on Wednesday when the Government report " put me acreage as of July 1 at 90,621,000, nearly 1,000,000 acres less) than the sch sch average of private estimates. Pool
cee ae! fe Met ates holidings are said to have been Thursday 109, gulp 2 duly © Change] Sea asin up 20]
49.18. up 134] di ay conan ies 44
Text read from the printed page and cleaned; old type leaves the occasional error.