Government Bonds Drop to Minimum Prices Shanghai, Aug. 3.
The search for gold has been intense that a rise of $88 per ounce was registered yesterday. Prices of gold ornaments sold by Chinese shops iso soared $11 per ounce.
On the Chinese Government bond market, action by the Chinese authorities in @xing a minimum mark prevented what might have been a sharp decline in prices. "Consequent Jy, all Consolidated bonds dropped only from 30 cents to $1, even when the lowest quotations permitted were reached.
The 90 Millions, which did not come under the new Government rule, dropped $3.50, the maximum Grop for each issue allowed by the market being. $4.
The market closed yesterday the lowest prices; Consolidated A, $16, Consolidated "B, $73.50, Consolidated C, $71.50, Consolidated D, '$70, and Consolidated B, $70.
Although two sessions were held yesterday, no fluctuation was noted. All sellers were willing to release their holdings at the minimum prices at the opening of the market. Tradings were limited to August delivery only, as nobody wanted to buy bonds for September delivery at the prices Axed by the Government. day. Chinese brokers held a racering ocht Rifle business was don
toward noon when relief measures were discussed. "It was pointed ut that the market was stagnant following the Government action, and that the Ministry of Finance should be petitioned for modification.
The bond: market re-opened yesterday afler dive days* suspension for the settlement. of transactions and the introduction of a new system of account books.
Text read from the printed page and cleaned; old type leaves the occasional error.