VALUES RECOVER
AUSTRALIAN CREDIT IN NEW YORK
(Received 6th February, 10.30 a.m.)
NEW YORK, sth February
Australian issues continued their recovery to-day, New South Wales averaging two points higher, Commonwealth 5 per cent., Brisbane 5 per cent., Sydney s\i per cent., and Queensland 6 per cent., showing moderate gains from au eighth to two points more.
Accurate explanations of the situation have begun to appear in the financial columns of the newspapers, and there is every evidence that bondholders have been reassured.
It is interesting to note, however, that what is considered to be a serious breach of form as between debtor and creditor as concerns the New South Wales suspension of interest payments, has said to have occurred.
Bankers draw attention to the fact that the fiscal agent of the New South Wales loan has not received a single word of explanation from the New South Wales Government direct.
It is being asked in Wall Sheet why Mr. Lang has not seen fit to make an official communication to the bondholders here. '
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Bibliographic details
Evening Post, Volume CXIII, Issue 31, 6 February 1932, Page 14
Word Count
173VALUES RECOVER Evening Post, Volume CXIII, Issue 31, 6 February 1932, Page 14
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