Pound Closes at $3.19 Francs New York, May 23.
The large scale support given to Foreign market this morn-the French ch Po on the New York covery gs ident stering, whic ing brought about à abe lan tial atin ground.
e pound opened at 3.22 and ciosed at 3.19, compared with yesterday's close of 323%. The trading range for the day was 323% and 3.1856.
"The French franc opened at 1.77% and finished at 1.80%, against the previous Gnal level of 1.76%.
Well-informed quarters said that the intervention of the franc was made by a single large bank, which used to act for the Bank of France, At the same time, dealers pointed out that the difficulty encountered on Tuesday and Wednesday in obtaining sterling in Paris for exchange of francs at the official rate, which was supported, will continue throughout the war.
Franc futures were quoted at one-point discount for three days, with no business done in long futures.
Meanwhile, the discount on sterling forward rates touched the lowest levels in several weeks. The one month quotation was listed at 1%, discount, and three months at 3%, c This was attributed to the plentiful supplies of "spot" sterling as well as to the drying up of speculaüve activity.
Other currencies luied more or less steady, except the Swiss franc, which came under moderate pressure but closed unchanged at 2240—Reuter.
Bank of Japan Gold Heserves Osaka, May 24.
The gold reserves of tne Bank of Japan yesterday totalled 501,287,000 Yen, same as on Thursday last week and on May 29, last year.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.