davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
steel Common.

United States steel common made a
Door response yesterday to Judge Gary's
speech at the American Iron and Steel
institute. when he painted the future
outlook FOR the steel industry IN rosy
'olors. steel common opened al So. up
- Of a point from the previous close,
but that was the top for the day. After
the publication OF Judge Gary's speech
the stock sold dow 10 sca. and closed at
sjs,, off /. If a point from Wcdnes-
DAYS close. The %urnov In steel. more
ever. was II small one, only % 600 shares
changing hands.
The resent fIilurc OF Steel to break
into higher ground or even 10 go through
Soy. reached on March = had led
many well Informed persons 10 believe
that either there had been considerable
liquidation above So by people who
bought the stock at much lower figures.
or thai the foreign liquidation IN this
stock was much larger than had gen
orally been expected. There were ru-
mors early this week that Il block OF
200. 900 shares for foreign account was
oVerhanging the market. but the greater
part Of this stock. ii IL understood. has
been placed. 1t was considered slgnifi'
cant, however. that In the recent ball
movement no great attempt was made
20 move Steel ommon the stock which
the street as n whole would like most
TO see get under way.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
Copper Metal Prices.

Leading copper men say that they are
not at all disturbed by the big drop in
the price OF the metal In London and
add that quotations for domestic and
fore gn sales here continue firm. Indeed.
the sudden drop in the prices for the
metal In London Is looked upon as a
speculative one intended. II possible. to
affect prices here. ONE of the big
copper experts believe that the recession
in the London quotations forecasts a
further placing ~ big copper orders here
for the Allies. II was recalled ycster-
day that shortly before the more recent
biz contracts for the Allies were placed
here the price OF the metal was SINH
larry depressed In London. This did not
AFFECT our market prices. however. Some
% the domestic consumers. h were
watching the London market and be-
lieved that the slump there meant lower
prices for the metal here. did not Ill
their copper requirements, believing that
they could do better IL they waited.
They were sadly disappointed II find
that in a few days the Allies placed
new large contracts for the metal IA this
market and that prices scared to new
hirl levels which drove them 10 cover
at costly figures.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
THE T MARKET.
copper SIN Freely ncrcd-TiU
Cirmer-IenJ DulI,

Copper ls freely oNo-ed hy second hands
and 10y consumer a. heavy ssior~.
While the demand j. Light. The main
feature yesterday Vas tn" violent irnp OF
: in standard ant the break Of - TN
American oierfro#tIr At Ipriul. the
after being offered lliS Tor spot 4, Ne"
York smtt! lots - spot wcr" heli At
valuable At .S'g to ga: August, sen
.emhNr and Octo'nr At e>u.Nac.. anI
october. N%ovenhs- and December "7r
.5i7C.. without buyers Exports ves'oriI,
tcr" 80 tons. during the We"k 'udrd
Way Is only 2,go- tor. and sine" MAY J.,
Tin was hrmer shroal. London hriae
lp II an spot straits TO .lsh while
standard advanced los on spot and -
IN futures Tn" singapore market Nas
r. higher. with sles of 80 tons rt t'"l
heavy. with spot straits nominal AT i;l.c,
and May At 90. Future positions "'~,
frmer hut au'ei Arrivals at Sow York
since May 10 hay. hreu 3,i97 ton. aud 500
more arc due to nu" I'm.
Lead t. dull AIT oasy bat there Is =
let'er inquiry from dealers. who arc Both
huying and settling Spn' May amt Jan"
cad IL offered t' -, ~ , 300. Son York,
and At Zoo. va -. luris, vIth buyers
TO 10 points l'.. London declined o..
"A. az spot TO tS' ~, futures wor" slcudy
It t3l.
spell or vas gain lowcr here oul
broad. hut SON, drmrud has developed
At tho decline spot iS held At -. ,
May at ltmitt4 Jun" ~ l3ia nlaR, ,
July at l3ml3t,' third quarter AZ 49,,
di3c. and ,ocou1 hail a. l.tac East II.
Louis. LONDON topped g., spot being Of
rer"i ~ tso and ftur'- At l'5.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
HEAVY DRY GOODS DEMAND.
..Economist" Reports tnn TRx"s
SuVpiS Ut Fabrics.

The Dru Goods EConom,Sf says
" Economist staf members who have
visited ariou sections. including the
m.ddl. West. this week rcport a continue
nhrc uf activity among retailers. with
M rrhauts and department heads very
optimistic a. to the future. These con-
dtiOns are reflected in the manufacturing
ana w o~lcsalr centres in so far as some
II "s Of goods are concerned. but In other
lucs tine continuance ~ cnol weather is
charged with having checked bordering
"Iu all classes OF fabrics In" demand
continues to tax the supply, The labor
situation shows no signs Of relief and
nov strikes nr concessions 10y mills 10
avert Waikuuts are reported. The fdcl'i-
r,cr of nlcaca cries, print works aud other
cotton goods finishing plants are taxed
t. the utmost in spit" Of a steep advance
IN their charges fur such work.
such concessions as are being made
in silks are due solely to "A desire 10 get
rIl of odd lots from stock on tn" part Of
manufacturers who had put their prices
fr spots al an unduly high figure Largo
mills are sold M for tire initial muntht
Of the fan and arc ma,'iug deliveries
against orders. Additional strength has
h,cp impaired to the market 10y the ad-
Ndlcc or l''e cents a pound ou raw silk
in Yokohama
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
IN SOME LINES
IN GREAT TRADE RUSH
Manufacturers Not Disturbed
by Decrease in Orders
Some Have Hands Full.

CONTINUED business prosperity. with n
Shriukage Of new orders IN some lines.
Is reported IN the weekly reviews OF
trade.
Dan says Continuing remarkably
Prosperous. business has gained IN whole
some characteristic through the recent
cessation Of price advances In certain
commodities. Sustainmert OF consump-
tive demands in unprecedented volume
with costs rising rapidly has been an
economic phenomenon for months past.
but that ultimately a point would be
reached at which buying would slacken
was Obvious.
"Evidenres OF abatement are by no
means general and nothing indicates d.
minishcd purchasing power. yet Ia
Nrnrrhos uhara forward requirements
are already largely provided FOR some
hesitation. with shrinkage IN new orders,
II natural.
Manufacturers in important lines
hcing covered far ahead. In some In
stances into the first quarter OF 1911.
view the lull in domestic business with
eduanimty. II not with Indifference
Textile and cotton mills are assured OF
full operation for SOM" time TO com" and
many footwear factories will not close
down FOR customary stock taking this
summer. while leather tanners are more
anxious To catch VI with deliveries than
10 make additional commitments Rut
existing conditions In the mercantile
fcll still leave something to be desired
RvddstrC'fS says.
while the Couutry's industries con-
truu. to operate AT high speed. there are
! mum srous evidences NJ a reaction toward
conservatism In buying. tn" trend thus
! displayed suggesting that. for the time
beng n, least. new business has under
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
THE GRAIN MARKETS.
Farther wheat Com piaints-Enir
Nd~anccs-Iorn irregular.

A more critical wheat crop situation
H. the extreme Southwest was brought
before the trade rather strongly yester-
day. and wheat advances Were about =
cents "A bushel. These gains were not
fully maintained. however. as there was
a forecast for cooler weather IN okla
homa and Kansas and a prospect OF
showers for Oklahoma. The sentiment
Through the trade was Of n huliish aver
age because Of the supTuSition that the
damage reports would assume a more
sensational tenor II weather conditions
are not relieved IN the near future.
There was nothing especially new III
the bad accounts from oklahoma and
southern Kansas. excepting that with
each day Of neat and drought the dam
age apparently spreads. lnas,nuch a.
! T. g complaints are better defined their
effect Is greater. Several OF the nrge
cash houses received advces "f de-
tcrioration w to 80 per cent. in SOUTH
Western districts. and Snow reported
that s!N counties IN western Kansas,
phich were in excellent condition =
few weeks ago. had dropped from "a per-
crntaee condition Of sc To sc.
In some quarters thor, va sr",nl'.
| tive buying OF wheat on III" thrur 'rtf
tn. next Go'ernmcn' report On luH" =
would lrdicSt. u winter wheat crop Of
anou, ~ 600 400 bushels, ~ oompar,t
- '''''''H'N 90 '. '
spring arr-ag" will also b" reported ur"u
and Il decrease Is .XpCct"d 20 appr">im,'"
of Yesterday the kansa. wheat crop was
estimated at %. 400. 600 bushels. hu' q
was SAID that prospect in IA" >ou'nN's'
we're not favorable. Tn" spring wheat
area is est mated At II ia "a per cent
l's- than that 81 a y.Ar ago
large exporters ha," modified th"ir mar
kct views In some cases tn, view il
IMPRESSED thai prices might uo' decline
V.NHl ~ "a o La Ia HhAE ,. pa be-
confidence In much higher prices .J'or
and In tho possibility - poor crop lo-
I counts stimulating create foreign buylrE
Yesterdays export business Appropriated
100000 bushels Tn" sclthoari c,chftng's
r-prI Brddsre,t Exports for The week
we've $50. 0nl bnsh, against $50. 400
l.st year ami since July I Tho total rs
539.ooo,o 900 bushels. against S'o.ooo.oop
Cofn-Thcrc was. q, fairly nrm tome =,
,h" mtrk,, mo-, ,L he tay hl, ",ag ~.
sharply and other months ~ympu'his'l
losing, prices were irreGnlar Win Nal
and September Sc higher. Thor"
was considerable short covering. ha.,'I ou
IN" rally in wheat 9nl ON n" .'rGnr'h, in
, ,SSSr''G VII vs.. soon '''s :, !!nc.. :, .'' rc5r' ~
slightly larger farm offerings were offset
YESTERDAY lbs A ht'tprmrUf In tho uI.'I 81.
mand R'ad'tr'ct'' exports for me w'oi,
bushels, against a.. oo0, 600 a year ago
oats TN" mgtk"t W. fgn'rair Hrm.
c%eption. this month ,iosiug &c lower
C,,2p, damaGc reports from kan.~ and
the heat 'ud drought. E>port business OF
10000 bushes w.. reported, IA" buying
Observation-Disclosures cnm" from pa .'yc-.
d%"rstood thai prominent houses are work
' ing Tor NlitN CARVING charges. HOG Fn.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
FINANCIAL NOTES.
zimmcrman & Forshay will ship 800

zimmerman & Forshay will ship 500 Ooo
ounces ~ silver bullion 10 London To-day
on IN" steamer ST Louis
A,lant,c, Gulf and West Indies directors
have declared "A dividend OF - u shar" on
Tho preferred stock pnvahle July IN stock
Of record on Juno 10.
lanes \ Uiir has hcon elected director
Of tho Third Avenue Raiiwav 10 succeed
James NJ Wallace, VII" resigned - f"N
months ago
rrmp,rar, crr,t0,,. Of Chicago rninn
station rrst mor'gap, ~ por cent bonds
may nov he exchanged for ia" d"nntti>c
bonds at the ofio" Of Kuhn, Loeb n -"
Livingston 4 90 arc Offering =" .n'es
charcoal iron TompauN , c"mpauN pro
du'ns Wood alcohol, charr"". iron ana
acetate Of lime
Western business % III" ,'nlf PIPE LIN"
Company, has joined the stan of TIA" Sin
clair b' aud kenning 'orp"ratI"n ~ as
,Is'aut to II +. sinclair, president
The Tlcmish-iNuu rhonorraph company
announced YESTERDAY 'ha' II hul purchased
,NclwiN" eiRhts in this country for tn"
uui the nlaptcr stylus a't!rlm"nt witch
enables Photographs go play h"ih types
~ records.
The Equi,nhle Trust COMPANY has pnr
chased 81, 0OO. 900 : per cent nNc year notes
II N" Great Atlantic and Pacihc Tea Com
pany. tn" notes are C"nNertih'" within
Ing has We, been made, 1t + understood
In this connection that III" or"o, Atlantic
onG r"rin" TG, '"Wr,ny, M %H doo be- r,'nni.
fcrrcd and J.; 900 600 common stocks
Tho Alabama Great southern Railroad
! Company has doc tr"t extra diNil'nds ~
per cent. on ia" pTr'orrcd and ~ . PEI
/ cent ON thu ordinary shpr"s in ndiition 20
The usual seml annual Iirih, nda II . per
cent on the preferred and ~ ~ per cont.
o. the ordinary sha~es The ordinary stock
| dividends are payable June 90 70 holders Of
record juno ~ aud the preferred diyi-
record July ~.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
One Point Of View.

Ry a curious coincidence. the pictures
on the coupons attached TO the Anglo
French bonds seem to reflect rather the
impressions Of man. persons in the
financial district regarding the respective
activities Of France and Great Britain
in the conduct OF the war. y bond
broker delivering several Of these bonds
10 n client yesterday called his atten-
ton To the Illustration on the coupon
with the remark:
'IIo you notice anything In the pic
lures on the coupons which impr"sses
you In connection with Great Rritain's
part in the war
Why, do you mean the fact thht
Great Britain Il represented by a female
figure which Is seated and apparently
watching France. another female fgure.
actively engaged In sowing - replied he
customer.
Yes. that's exactly it," was the reply
Of the bond man. France seems TO b"
doing all the work In the picture. Just
A. she impresses us as doing most or the
fgl.ting against the Germans while Eng
lends millions OF men play a somewhat
inactive part
Tire remark was qualified. however, by
an admission from the bond man that
Great Britain by playing her part on Tn"
seas had made 1t possible for France Ia
beat off the Germans.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
GOSSIP OF A R E
Increased

Statistics compiled by the New York,
New Haven and Hartford Railroad Com
pany. Of the incomes Of several Of the
larger OF the Eastern roads for the
nine months ended March 81. 1915.
throw interesting light on the enormous
increases when compared with the in
comes In the corresponding period a
year ago The increases in railway
operation incomes range any where from
1870 per cent. In the case of The New
York. Ontario and Western Railway
Company to as high as sS.15 per cent.
In the case OF the Erie. The New
Haven shows an increase OF 27.42 per
cent. In Its railway operating income
for the nine months period over that
OF n year ago. The railway operating
income Of the Erie, which showed an
increase Of 1915 per cent. was &c.
0i2,75+. while that OF the New York
Central. which came second. with an In
crease OF 1899 per cent, was $49.-
50s.3S7. Third In the list came the
pennsylvania, with a railway operating
income Of sH.529,81s. or an increase
OF 67.H per cent. Next on the list was
the Reading. with AN increase OF 63.99
per cent, while the Southern followed.
with an increase in railway operating
income or 5S.i6 per cent. Some of the
Increases In net revenues from railway
operations were az follows: Erie. Se.sl
per cen New York Central, 6i.5i per
cent: Reading. 1857 per cent; Penn
s~ylvania, 55.0l per cent. Southern. 507&
per cent, and New Haven, IS per cent.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
COTTON HELD STEADY
ON FEW OFFERINGS
Favorable Weather Conditions
without Much Market
Effect.
SMALL LIVERPOOL STOCKS

Tie feature Of the market yesterday
was It's steadiness. There a no az
~rressive selling AT IN stage, although
the weather conditions were very favor
abIe and there was little in the general
news 10 inspire speculative support. \
Number Of messages were received from
the South emphasizing the beneficial
sfert Of the clear and warm conditions
r,,ed through the belt, but there was no
evidence Of concessions from Southern
sro, holders or significant selling of
futures for Southern accounts.
The steady undertone of the market
,esul,ed i'm occasional short covering. 1t
was argued that as soon az the scattered
liouidatiop had run It's course the mar
le, would I've lowered with difficulty. and
any un~favorahle weather developments
would ind reflection In another sharp
advance through the list. The general
sentiment al this stage is more divided.
partly because of the conflicting ideas
relative 10 the proximity of definite peace
Overtures.
There was n disposition to curtail COM
mItments over the week end and on ac-
roun, of the holiday on Tuesday. Next
Thursday the Government condition re-
mort will he issued. and the consensus
i, the trade has not been altered. the
belief being that the bureau figures will
he around 80 per cent. against 80 per
cent, a wear ago. Journal Of Com mcrce
adv!ces. published yesterday. covering
the Carolinas and Georgia, were Of crop
conditions averaging about IS per cent.
and acreage increases ranging from )
10 10 per cent.
The foreign advices exertcd very little
influence here. although the falling IN
in spot sales TO a total of 5000 bales AT
Liverpool attracted attention. on the
other hand. the Liverpool stocks OF cot
ton at this date are Just about a million
bales smaller than those OF a year ago.
Week end figures showed the American
into sight 10 he io6,000 bales. against
$4,000 last year. Since August | the
total Is 1883 900 bales, compared with
lisiS,0uo bales last year. Srinners'
takings for the week were 2l2.OO bales
against 2oS,Vo0 bales last year.
Market closed steady.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
FINDS KANSAS WHEAT DAMAGE.
'.NOdrrn Ntiicr" Reports iniur, b.,
EIN and Hot winds.

CHlCAGo. May 20. Tho Nodriu Ulicr
crop outlook "kausas crop nnmd' OPS
show less favorable ns n result of llrs-
sian fly and hot winds In tho rou'rtl
part of tn" state tn" plant has had u
distinct Sethi,k,
Present prnsp"ris iud'rrtc % crop ~
90 ,ooo, 600 bushels I'm o~tlthou 1uN
weather prevails except ~ 'ho south .,..
tr,l wheat districts, whore i"uoi' r0ns
relieved conditions 'urinG NI n,a r.
in ten days to tNo wrth
"Nchraska maintains f. .u.l "-
Ia the soft wheat States ih''u lIr 't.
much May plnuEhiur ~ wheat t,l'> Iy-
Vorah,o weather condition." pr. ~ IN
the spring wheat area. hut "creage viii
he short IL to 90 per cent
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27

The care which the United States Gov
rnmen is exercising in issuing pass
ports to its citixens who wish to go 10
any OF the European countries. be they
neutral or ~belligerent, IL we'll illustrated
In the story told yesterday by n banker
who Ia planning to leave shortly for
P.trograd and some OF the Scandinavian
cities. He made his application for n
passport TO the proper officials Of this
Government. and one Of the first Qucs-
tions ne was asked was IL he had his
birth certificate at hand. He replied
NO. | lost mine in the Johnstown
food
You'll have to get a better excuse
than that said the United States on.
cial. That's one Of the oldes, excuses.
by the way" added the official.
when We were arranging FOR Von Pa
pens safe conduct for his return to
Germany we asked for his birth certif-
cate to make certain that ne had been
born in Germany and he told us that
he had lost II in the San Francisco
earthquake"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27

Western Union, which sold at " on
Friday, May ~. continued tn" steady
fractional gains which have character
izol It's market all Of this week u sofa
n, 10 "A nigh Of 36is yesterday. 1t
closed A, asi.. vi ~ of a point for the
o,v The stock mas been rather active
Of late and yesterday. "A comparativeiN
dul, day. the turnover in Western Union
was 800 shares. This stock has gem
eIally been looked upon rs an invest
n,cnt issue. III, it is now beginning T."
have more and more Of IA speculative"
h -actcr owing TO the cumpany's big
earnings and the apparent, ability Of III"
stock to hold its gains well, Al "7N
Western Union made a new top FOR -"
year The previous high having been
gGI, on March I Western Union gold
AZ low as 81.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
ASSAY OFFICE TO STAY
ON WALL STREET SITE
Will Not Move. as Proposed
New Structure to BE
Built.

The ASSAY Office ,s not to leave Wall
street. The new building will stand
on the site OF the old Assay Onice. on
the north side of Wall street east of
the Sub-Treasury and opposite the ofi-
ces of J. y. Morgan Il Co. and Will be
the same height as the Sub-Treasury
and OF the same style of architecture.
Vernon VI. Bowie. superintendent: Of the
Assay Office. issued the following state
Went Yesterday:
The Director ~ the Mint. Robert
W Woolley. was In the city Yesterday
and we together carefully went over the
pending measures for the sale OF the
present site o. the Assay Office and it's
removal TO a new location. contiguous
20 the financial district; hu: IN n place
that would not cause Inconvenience to
Surrounding buildings and wh.r. the
functions of the Office might be exer-
cised to its fulles, extent.
While bills have been for several
months before committees Of the Senate
and the House. 1t appears that there Is
no immediate prospect OF their heinG
reported for action. The chairman ot
the House Appropriation Committee is
apparently opposed to the sale of the
present site. In View Of these Circum-
stances and OF the exigencies OF the
present service. W. have decided 70 PRO.
coed under the appropriation already
granted and carry out the original plans
Cor n building on the present wall stree,
site.
The work Of the Assay Once has 50
materially increased during the pas,
two years II tho demands made upor
II are so constantly increasing that II
Is imperative that a new building h,
constructed ut once. Although both the
director and ! feel that the public ser.
vice would in the long run be benefited
ny removal where there could be nc
complaint by our ~neighbors on account
of the necessary annoyances Incident t.
the operation Of such a pant as our:
IN the heart Of the skyscraper district
I'm New York. We, We feel compellcC
under tho circumstances to provide ale,
uua,e facilities in the immediate future
for handling the work Of the office.
W have an appropriation made by
the last Congress available and plans
completed for the erection Of an adequat,
building on the Wall street site Of th'
old Assay once. The build uG will M
archiiecturally in harmony with the
Sub-Trcasury aud surrounding buildings
and We hope vii he completed within 1
reasonable time
The bills mentioned in the Statement
provide for the removal OF the ASA,
Mice to au outlying district because
! fumes from the operation Of the refnint
plant disturbed persons working II
+ nearby office buildings, which tower hisi
above the present building tn" Gov
ernmcnt has appropriated s66S,ooo 70
new buildings in this department.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27
THE COFFEE MARKET.
steadicr Tone After Declines. Due
10 selling,

~" local "ofsc marke, decll nod : 20 :
tN.7's At the ovts", yos'ordtr AMI during
Nc 'r-' par OF tho lay vas easy under
fNt,her Liquidation Tho selling va- believed
n b. nv local logs vino recently wore quite
o.-r'.svo ON the huylH- side Tho buying
va largely n the form Of covering but
ioNsrQ the close Of tho day the market lie.
''lonsf a -'e1dicr toua. with loss presatirc
aui final quotations Wc a ~ about
,1e best ranging from | point rot lower 10
! l0,ui higher Total .plos were 1870 bags
krfelp's At Brazilian points are Increasing
= WIN" and 4 seemed to he the general I'M
ffeSs on amouZ traders here that future lie.
N,'ormsn's will depend largely on the SIZE
. ~" mlpveOleut and the attitude OF shippers
'7s' ana freight oNer- YESTERDAY we're com.
l~'rf''H'v S"arCe but tho market appeared
y i.'N" easier. and Santos T. we're uuotei
. TOY" a. enc for August September shlp.
No. ( q b London credits.
l'' ON a Brazilian cables reported a de.
o' ) .'' ion tho RIO exchange on London
cures nr'"' 10 RIO declined - -ois Sauto.
- tI't tr-'1 ami receipts a. the two ports
$40 Prices follow
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27

The Lehlgh Valley Railroad is asking
for bids on aidit!onallridge work which
will require 35o tons ~ structural steel
The Central Railroad Of New Jersey is
still taking bids on 200 tons for a brilg.
at Phillipsburg and railroads In the cen
trail West have inquiries out which Wi
require about 500 tons of steel shapes.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-27

The Bank OF England gold movement
from Cana'la TO this country continued
yesterday with a shipment of S.'.'"'"""
deposited at the Assay Office to the ac-
cnuut Of ]. T.. Morgan & co, This move
men, IF gold. which now totals slS.Io6,-
600, has so Gar had no aprreciahlc 'N"ct
on sterling exchange. Demands were
stIll quoted Yesterday at 40 l3-l"