London, July 7.
Conditions on the London foreign exchange market this morning were irregular. Sterling ruled &rm in terms of dollars and weak in relation to francs.
The cross-rate on New York opened with a gain of four points from yesterday's New York on London close io 495.85. Shortly afterwards, a substantial advance of 55 points to 40640 was listed, while a further rise of 10 points to 496.50 was registered at 11 o'clock. A reaction, however, set in at 1 o'clock, with the quotation declining forty points to 496.10.
French francs moved up three points to 12831 at the outset, but reacted six points to 12825 at 10.40 am. At 11 o'clock a further decline of seven points brought the rate to 128,18, at which level' the market remained steady for the remainder of the inorbing.
Bar gold lost 3d, to 140/1%d.
The silver market was quiet, with prices fixed for "spot" at 1839d. and forward at 20d., both down j&d. from yesterday. India sold, while there was poor support.
Rubber ruled steady. At 1 pin. there were buyers for September delivery at 95d. per lb, unchanged from the previous final level.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.