Intersification of the German blitzkrieg on Britain, together with the weakened technical position of the market after last week's advance, were responsible for decline in stock prices on Wall Street during the current period under review. On Monday all sections of the list suffered, but selling appeared primarily of the trading variety, with no signs of important liquidation. The market Tuesday was virtually at a standstill. The firm undertone seemed to be the result of a calmer appraisal of the latest war developments. After early strength the next day prices turned weak on the warning of the British Prime Minister that a (Nazi invasion of Britain might be imminent. Volume of trading, however, remained at a low ebb. On Thursday, traders reduced holdings still more, pending the threatened invasion of Britain. Favourable business news passed unnoticed:
Commodity prices, as measured by the Dow-Jones 11 commodity index, drifted downward. Wheat futures at Chicago moved lower on depressing European news. estimate of the crop at 12,772,000 bales, which was much larger than expected, failed to affect the cotton market, due to the lack of speculative interest. Prices responded either way to small orders. Trading in rubber futures was very quiet, with some switching from the September
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