Show f. f J f f Mining Quota Quotations i ns J Mining Financial and Commercial News ays ay's rs r's M Market arket it Price 1 t t tt V V STOCKS H RALLY lLY AT GERMAN Report of French Loan Is Signal Signal Sig- Sig V nal for Rally Raly Numerous Gains Made e NEW YORK Jul July 16 ff Indus IF Industrial Indus Indus- NE trial and utility stocks fluctuated Irregularly ir irregularly lr- lr regularly In a 1 narrow narow range toa today although the rails were heavy Trading Trad Tra- Tra ing ig was wa dull dun A moderate afternoon decline In the first flet two groups group w was wa more than recovered and carrier carier Isu Iu is- is I- I Su mor u reduced their losses loe U U. U S. S Steel thawed Showed a net gain caln of more mor than a point Westinghouse Electric and paso Case rallied 2 2 while National Biscuit had ha touched a n new low got cot tack back bac its It loss Jo Union Pacific regained I about but half or of a 4 loss los Sll Sales Sale approximated shares share DOUBT OUT REMOVED Wall Val alI street w was encouraged by the manner In which the partial reopening reopen reopen- n. n ing Izig iS of German banks was accepted b by the German public Particularly reassuring to security markets markeL was wa a L statement by the German finance nanc minister in i effect renouncing proposals pro pro- pro pol of or a moratorium on service of external long term loans The Te statement state ment was wa int Interpreted as a Indicating that tat the thc government strongly fared favored favored fa red maintenance of or interest and Sinking fund payments on bonds of or private corporations as a well wel as a the government g This attitude had been forecast foreast in Wall Wal street in view of the further damage to Germanys Germany's Gerany's credit l standing which any ny contrary stand would have done but the statement of or position removed remo an element of d doubt The most disturbing factor factor yesterday yester esterday ester day probably was wa the severe pressure against the British pound sterling This TW pressure was wa only partly lightened light ened today but even moderate recovery recovery re reo covery of the pound to the te accompaniment of ot a 1 downturn in i the French franc was regarded regarded as a the beginning of or a movement to t. t check the te fresh r h loses losses of British gold At any rate rat the Bank of England did not feel eel obliged to raise its It discount rate although the purely nominal nomina quotations for the German mark were advanced about 2 cents cent to t 23 cents cent reflecting the more hopeful attitude toward toward the German banking baning situation HOLDS ATTENTION There Tere was little in i the domestic news to t divert ert dl Wall Vall Wal streets street's attention atten tion ton from the foreign financial crisis Indeed this crisis has taken on such reaching far ng proportions that Wall Wallstreet Wallstreet Wal street is scarcely expected to pay much anything else until it is i past past A rally in i th the commodity markets markets accompanied the te better belter beter tone in financial fi 11 f. f markets market Credit conditions were wee unchanged with wih call cl money fairly farly steady at the official rate rat of 1 IT per cent Outside offerings at concessions were limited d. d |