NO DEPRESSION

Hawera Star, Volume XLVIII, 27 October 1924, Page 5

NO DEPRESSION

STOCK EXCHANGE OPTIMISTIC. DESPITE ELECTIONS. CONTRARY TO PRECEDENT. BY CABLE—PRESS ASSOCIATION—COPYRIGHT. (Received Oct. 27, 8.5 a.m.) ■LONDON, Oet. 25. Contrary to all precedents, the electoral campaign has caused no depression or hesitancy on the Stock Exchange, but, on, the other lijind, appears to have had a stimulating effect and buoyant conditions prevailed till yesterday, when a slight slackening of activity was noticeable. The values of almost all classes of securities hardened during the past fortnight, and this is regarded as an indication that the investing public consider the election likely to result in the establishment of a really stable Government. It will be remembered that in December last the Stock Exchange took an equally optimistic view, but their hopes were dashed to tlie grounds A feature on the Stock Exchange has been the enormous demand ;f or the new German loan, which lias risen to a 5 per cent, premium on the issue price. Another loan in which there lias been extensive dealings is Queensland’s last issue, which is now quoted at a 50s premium. Apparently the. Stock Exchange lias taken Queensland to its heart again, for there was a great rush' for the Brisbane Trams ’ loan, which was subscribed about four times over and quickly established a» premium of about 17s 6d, after opening at 20s. There seems to be plenty of money available for good investment issues, for, in addition to the South African eight millions, all the new'money was underwritten yesterday for several other large loans by English coporations. . Some of the financial newspapers hint that Yictoria is contemplating a new, issue.

LIBERALS ACTIVE. LONDON, Oet. 25. Liberal headquarters has issued a statement replying to the announcement by Mr. Stanley Baldwin (Conservative leader) in regard to Imperial preference, declaring that the speeches of Mr. S. M. Bruce (Premier of Australia) and other Dominion (statesmen .at the Imperial Conference last year, show that the only sort of preference whch can meet their demands must have the consequences ‘ which -Mr. Baldwin repudiated in his speech at Malthy. . Mr. Fred Hall, junior lord of the Treasury, said that Labour, if returned with, a majority, would most certainly introduce the capital levy scheme.