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Show WALL STREET i REMAINS QUIET NEW YORK, Aug- 10. A spirit of Cautiou on the part of those who have been operating in the stock market lor an advance In prices began to r'anlfcst itself in the action of the market today. Tho feeling was based as much on the duration and eMcnt jf the recovery as on any positive developments de-velopments bearing on values. Tho low prices oi the year were touched two weeks ago and no im-j im-j lirtant Interruption ot the recovery uas occurred since that. time. ' Tbo i-verage prices of the stocks usually I elected as most representative ol the whole market's movement, were this I morning rather more than five points I higher than two weeks ago. In the active market leaders the. advance tan been greater. Teaching from j about 10 to 13 points In a number ! of cases. As the recovery has proceeded the demand to borrow stocks for delivery has diminished nnd today there was j icported In the loan department the icturn of blockB of stocks which have been so borrowed for delivery. Signs appeared of an increased dis-1-oaitlon to sell stocks, which were taken to mean that buyers at the t lower prices were desirous to con vert their profits into cash. A firmer tone was reported In the market for copper both In London ;r.d New York in response to the Improvement Im-provement in the statistical position of that metal. The policy of reduced output by the leading producers la accepted as a fact at prc?ent, but there remains the fear that the con-1 con-1 aumptlve demand hitherto sustained at high figures will be affected now by the tendency to ward recession vhich shows in other Industries. Another item in the day's metal statist lea was the statement of the July output of gold at the rand, showing show-ing 36S.714 ounces valued at $13.oPi, 415, Except for tho (X0.GI3 fine ounces of December. 100S. which was ffeeted by the adjustmnl of the j revious year's accounted residue, the July production const it ues a record month. The fact Is not without bearing bear-ing on the prospect for continued replenishment re-plenishment of bank reserves througn the gold supplies in the London market. mar-ket. Time loan rates were shaded tn New York today, six months money belDg placed at A 3-4 per cent. Bonds were Irregular. Total sales, par value. $1,122,000. United Stales bonds were unchanged unchang-ed ou call. |