London, May 15.
After an early decline due to precautionary marking down of prices, conditions on the London Stock Exchange today closed steadier.
Selling pressure was very small, New York, May 15.
small curative covering the New Ana eria to a new high under York/London cross-rate ' vigorously fluctuated on the Foreign Exchange markets here today, as traders were facing a subtle European situation and very thin market conditions.
The pound opened at 3.19 and closed jat 323% against yesterday's close of 3.20%. The high for the day was 329 and the low 3.18%.
During the latter part of the session, the quotation was marked down, owing to. an unconcealable lack of confidence.
The Swiss frane again slumped. After opening unchanged at 2190, offered, the quotation eased to 2135 at the close. Official support was absent, because the Swiss authorities were not willing to sacrifice any gold or foreign exchange resources as long as it is doubtful whether a state of neutrality may be maintained.
Dealings in German marks have been suspended, owing to a lack of bids, because of the confused war picture rather than to any general agreement to cease dealings in the currency. Forty cents was offered and 39.25 bid, temporarily, according to reports.
The French franc continued to improve, with the opening listed at 1.81 and the closing 1.83%, compared with yesterday's final level of 1.81%.
In the meantime, New York banks are being perplexed over "futures" transactions in guilders and belgas, created by the inability of the ultimate buyers and sellers to make deliveries, Most of such "futures" transaction May 4 15 War Loan, 312% (Red. £99 98
Text read from the printed page and cleaned; old type leaves the occasional error.