Show ock Mr Market ei Depressed Tight Money w TORI July 27 AP ThC AP-ThC The OCK sw market was again ajain depressed Ight money this week As call oney ney mounted Croni 7 to 10 per nt t havy prof profIt it k taking was In The and rails id d many of the industrials ala al al- a a. few managed to make makey y ln in to excellent cond d earnings statements The action of the market was wai In contrast to the highly ible character of the of iud and the opt opt- tic for business durIg dur- dur Ig the of the year The Theet et appeared however pretty to have discounted the situation and io to have kei ft an over bought The of ot money disappointing for although therkeL the H t has at tImes managed to toe ake e remarkable progress In the thee e of high money th the present f completely upsets the re- re pf f a a. few weeks week credit conditions would at at Is time Urne be 1 me ely ble Although call caD money money H r Pe-r cent on Friday me money mounted to io 8 8 per pr nt for hort 5 so soared ed ort to another another- d record which s rather perplexing In view of of th the the- market Wall R much of the E in rights maturing IY in fri th e week While no re- re arnIng regarding use UBO of tt for i from reserve reserve- Quarters the reserve board took cognizance of the upturn in loans hians In monthly survey It pointed but ct That the gain of about in hi loans and invest of member banks In leading cities front Nay May to July 17 wa vas caused chiefly by the growth I in brokers loans While the federal reserve is ex expected expected ex- ex to release credit to help the crop moving season this weeks week's statements showed no upturn in holdings of acceptances and government government govern govern- ment securities bought in the open market The ho reports rather Indicated Indi a reduction of about in federal reserve cr credit dit The expected improvement in credit during July has haM been prevented pre pie vented y the tho heavy borrowings of the New banks at the tho federal to meet midyear require ments the large increase in federal reserve note noto circulation caused by Introduction of the new v currency and the heavy demands for commercial com coin mercial credit as well as increasing The standard rd AssocIated Press Index of 50 leading industrial stocks ks declined 2 points the week to 2267 nearly 10 under its peak and Life Index of 20 mils 63 points from Its peak of i a week ago The Index of 0 utilities closed the week 2 pots points abo last Saturday but About a point under the record reached Thursday |