London, July 21.
Active conditions prevailed on the London foreign exchange market this morning, with sterling ruling easier in terms of dollars and weak in relation to francs.
Opening with a drop of ten points {yom the previous New York on London close to 498.27, the cross-rate on New York lost a further 22 points to 498.05 at 11 o'clock. At the time of cing to press, however, an advance of seven points brought the quotation to 498.12.
French francs opened at 132.75. s loss of twelve points from yesterd close and was followed by a very p of 107 points an hour later AY I pin. a rally occurred ud a gain of 44 points set the rate at gold remained unchanged at ruled quiet, with "spot" and d listed at 19330. and 1939. declines of 16d. and 10. respectively. India, China and speculators sold. small. conditions prevailed for At 1 o'clock there were buyers for Oct./Dec. c let at Dad, per Ib, down td. from the previous final level.—Renter
Text read from the printed page and cleaned; old type leaves the occasional error.