Show Week Irregular in Financial Markets NEW YORK July JUly 4 AP Marked AP Marked irregularity characterized this weeks week's financial and commodity markets Reactionary Re Re- tendencies characterized characterize the opening of the new nev week in the stock market due to selling Inspired by the higher call money rates and the the un- un easiness ver the extent of the California California Califor Califor- nia nia earthquake damage but when traders traders traders trad trad- ers became convinced that the high money rates were only temporary and that the quake damage was Was confined largely to the city of Santa Barbara prices bounded upward The Tho rally raly was checked toward the close of the week by teavy pre profit takIng and liquidation resulting from a large stock exchange failure Favorable merger and dividend ru rumors rumors rumors ru- ru mors stimulated pool activities particularly particularly In some of the motor rubber merchandising and chemical issues With record breaking July interest and dividend payments as a a large potential po po- source of new buying car loadings loadings load load- ings maintained at close to record levels levels lev len cose els the announcement that crude oil 01 production had declined for the f fourth successive s week k and a large r quota of eor JI JIk nae other tr trade news operators e on the long side found plenty of ammunition ammunition tion lion for lor their operations Short selling on an extensive scale sale was discouraged by the apparent Inability of bear trader traders trad trad- ers erg er to dislodge much long tock stock Outside the stock market marlet chief financial financial financial finan finan- cial interest centered in In the wide movements move move- 1 00 ments menta of the foreign exchanges exchange the establishment of a new high record ecord price by United States Slates government bonds and the sharp break In wheat following following following fol fol- fol- fol lowing the publication of the government go ern ment crop estimates showing a condition condition cond- cond condi condi- tion ton 2 to 3 per cent above what Wallstreet Val Wall street had expected |