Stock prices recovered yesterday's losses in a moderately active session today in which one of the best month's advances were rounded out since June, 1938, The rally resulted from the spurning of the German-Russian peace overtures by the Allies. Other markets readjusted themselves to the war pattern, Trading was active around the closing, with the market making new highs for the session and steels and motors showing strong spots.
London Market Closed Commodity markets remained closed on Saturday, Sept 30—Reuter.
In this connection, it is to be noted that in the last year or two Russia has been a heavy buyer of oil supplies on the Pacific Coast of the United States for shiprhent to Vladivostok. In the last few days, it is reported, these purchases have increased ' materially, three cargoes having been bought on the Pacific Coast for immediate shipment. In view of the heavy purchases, it is considered likely that a large part of this oil has been or will be put into storage.
In view of the large amount of oil that would be available for France and Great Britain from the United States, ordinary motor fuel and fuel oil probably would not be a serious factor for either of these nations in any conflict, regardless of what happens in the Mediterranean. At present some 90,000 barrels daily of oil from Iran and 84,000 from Iraq are being moved to these countries through the Mediterranean. ff the Mediterranean were not kept open, the oil from Iraq would be excluded, but the oil from Iran could be moved around Africa, although this probably would require more tankers than would be available.
Text read from the printed page and cleaned; old type leaves the occasional error.