Show HIGH HIGHLIGHTS OF FINANCES British and J Japanese Japan Japan- apan- apan ese Exchanges 1 N-gw N YORK Jan 16 AJ A harp sharp downward revision of ot stock prices public offering of an unusually unus unus- heavy volume of new stocks and bonds and the steady eady climb of or British Brish and Japanese exchanges toward gold parity were the high highlights highlights lights of this weeks week's financial mar mar- kots The reaction in the stock market was precipitated b by the heavy profit profit profit pro pro- fit taking of ot traders who had bought bugh stocks In the closing weeks of ot the year with wit the Intention intention tion ton of ot them on the rise which usually accompanies the reInvestment reInvestment reinvestment re- re Investment of year end dividend and Interest payments and by bear selling which was particularly er- er in the moto moto shares The decline which was a 0 natural correction of ot a 0 weak technical position was wa not associated with wih anything In the weeks week's business able news which was wa generally favor favor- Commodity prices were mixed Wheat dropped one to four cents a bushel largely in reflection of ot the light foreign demand The cotton coton market marke was steady the bulk of the weeks week's trading representing for the most part an evening up of ot speculative accounts A rise of ot sterling exchange Is la us usual usual usual us- us ual at this time of ot the year rear Demand Demand Domand De Do- mand for tor sterling has been ac acCentuated accentuated of 1 late te by the scant supply of cotton coton and wheat bills bUs and the Increased requirements of ot Import Import- ers The advance in Japanese yea yei yen I Is believed to forecast an early re return return return re- re turn of ot Japan to the gold standard |