London, June 6.
Quiet but persistent bidding for sterling yesterday and again today fused much-needed fe into the London Foreign Exchange market In spite of oMiciat intervention te! British Exchange "Account sterling. appreciated this morni {erm of dollars to 408.1 compared With 468,50 at the close yesterday.
Well-informed circles attributed the advance to. liquidation of bull positions in dollars, owing to, the abate. ment of war fears both in Europe and America.
While the upward trend of sterling provided the chief interest, the weak= est of the Netherlands' guilder tracted some attention, was pointed out that the require ments of the French authorities connection with the recent French bond issue constituted a supporting ex for the builder, but, "with this how withdrawn, there was little sistance to speculative selling. induced by rumours of political Gifferences in. Holland.
Afler_ opening at 880, the guilder coved this morning to 8.42% in terms sterling, and finally closed at 881, compared with yesterday's final level Banking Regulated in North Eh The *Provisi Peiping, June, Government" has issued Working of financial institutions, Business interests of bills "and foreign exchange must first secure the approval of the local Ministry of Finan mitted try wi rough the Applications, which are to be sub-
must furnish partie institution to be opened, its tivities, owners and The Ministey of Finance has the right to ask for financial statements. from any Chinese financial institute ton in order to rletermine its sound stitutions which approval of the Min ry on business activi lives. outside these authorized by it Will be liable to fines not exceeding $5,000.—-Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.