COLONIAL STOCKS

Dominion, Volume 9, Issue 2684, 2 February 1916, Page 5

COLONIAL STOCKS

PRICES IRREGULAR 'STATE OF THE MARKET ANALYSED

By Telegraph—Press Association—Copyright (Roc. February 1, 9.'10 p.m.) London, January 31. The market for colonial stocks shows considerable irregularity, and prices have fallen more heavily than was expected. Dealers aro at a lossjto know what prices to quote, though the general working arrangement is that sellers aro offering stocks on the basis of a return of 6 per cent., while buyers aro seeking from 5£ to 5$ per cent, yield., Tliere are more sellers than buyers at present, owing to the competition of Exchequer bonds. Buyers are also holding off the colonial market, believing that the minimum prices will shortly be removed' from Home railways, Indian, and Irish stocks and local loans stock. The Stock Exchange authorities are convinced that the policy of minimum prices has out-lasted its usefulness. The banks have had time to provide liberally in their balance-sheets for the expected depreciation, and the general belief is that priccs can now be trusted to find .their own level without undue public alarm. The following are the mean (middle) quotations- £ s. d. i p.c. New South Wales 83 0 0 3J- p.c. Noit South Wales 96 0 0 3J p.o. New South Wales 60 5 0 3 p.c. New South Wales 70 0 0 I p.c. Victorian 93 15 0 31 p.c. Victorian 83 0 0 3} p.c. Victorian 69 0 0 3 p.c. Victorian 64 0 0 131 p.c. South. Australian 71 - 0 0, 3 p.c. South Australian 5S 0 o'' i p.c. Queensland 88 0 0 3| p.c. Queensland 85 0 0 3 p. 0." Queensland 65 fl fl & p.o. iiew„Zealand 86 fl 0 31 p.c. New'Zeaiand 70 0 0 1 3* p.c. Now Zealand 63 0 0 3j p.c x . West Australian 72, 0 0 3 p.c. West Australian 73 5 0 3} p.c. Tasmanian 69 0 0 3 p.c. Tasmanian 76 1 3