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Show FINANCIAL HEVIEW OF THE PAST WEEK New York, June 27. The stock market mar-ket last week got an effective' shaking up. The secondary effect of the break was shown later in the week i i t1' effective rally to a level rataer above that at which the preceding week ended. end-ed. The whole episode represented rather a clearing up of speculative ac counts than the effect of any H?nt factor In the course of events effectbS values. The result, nevertheless, was to cause the unsettlement of speculative specula-tive sentiment usual In such conditions, condi-tions, and which finds expression la the varying views among professional operators as to the heakhfulness of the reaction or its significance as marking the culmination of an upward movement. Meantime many of tlK more powerful forces in the market had retired for a perio,! for an opportunity oppor-tunity to enjoy summer vacations aDl foreign travel! Such an effect, while apart from the purely financial censi'1 J eratlon governing a market, is to he reckoned with in estimating its action. It may be taken as a presage of a coming com-ing period of abstention from market operations. Fears for the stability or prices at the high level to which tbey had been nushed was an element lu this dissatisfaction. On t"ie side of the money situation the porsisrent east -f inr.-re'st rMes 'n face of every requl'-ment and deman-l forms a factor calculated to .sustain the stock speculation. The July sc. f tlements will be heavy, and the ex sj ing surplus reserve of the New V,r banks is not large. i Lrge sums, estima.'ed as In'sh 3 $lfi0.(io0,.'0it have been borrowed abroad, and the active demand f-r exchange ex-change in connection with the Ixiud?" stock market settlements shows large amounts of stock are held ' London for New York aecouot. "' 1 went out during the week both . South America aud Europe. |