London, July 6.
Active conditions prevailed on the London foreign exchange market this morning with sterling ruling firm in terms of dollars and easier in relation to francs.
After opening with a rise of seven points from the previous New York on London final level to 494.75, the cross-rate on New York advanced another twenty points to 494.95 during the next hour. At 1 o'clock a further gain of five points, followed. by another of 25 points, recorded at 2 pan, brought the rate to 495.25.
Atter an initial gain of three points to 128.43, French francs declined five points to 12838 an hour later. The market continued to recede with two further declines of three points which brought the quotation to 128.32 at the time of going to press.
Fine gold declined 144d. to 140/4%2d.
Steady conditions prevailed for silver. At the official fixing, "spot" was quoted at 20d. and forward at 20d, both up Jed. from ihe previous quotation. India bought, while offerings were small.
The rubber market showed a steady tendency. At 1 o'clock buyers for September contract were offering 95d. per lb, up Y4d. from yesterday's close.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.