The market opened in a selling mood which may be ascribed to the acute tension arising from the Japanese blockade of the British and French Concessions at Tientsin. All sections were affected and business was done at successively lower rates in the course of the morning, but towards the close there were signs of resistance to the drop and in several lines a small improvement was New York, June 13.
Further declines were recorded on Wall Street today, with most listed issues closing with fractional losses. However, there was no undue pressure, and dealings were very slack. The bolstering effect of the tax revision proposals was offset by labour difficulties in various industries. Coppers reacted on the lower export price of the commodity and also on the small decrease recorded in copper stocks. The volume of trading amounted to 530000 shares.—Reuter. recorded, Ewos were probably the heaviest sufferers, opening at 21.80 with small business done, thereafter dropping to 20.90 at which level there was considerable support, the market closing with buyers at 21.20 and sellers at 21.30.
Trams were very steady all the morning at 44 though this was the selling rate at the close. Wheelocks, after being done at 39% met resistance at 38% with a fair business done.
The rubber market was also affected by the uncertainty but after initial drops good support was generally forthcoming,
Text read from the printed page and cleaned; old type leaves the occasional error.