GERMAN BONDS RECOVER

Hawera Star, Volume LIII, 20 June 1933, Page 5

GERMAN BONDS RECOVER

LONDON STOCE EXCHANGE

MEETING WITH CREDITORS.

(British Official Wireless. I

RUGBY”, June 17

While uncertainty regarding international affairs is mainly responsibkfor keeping business on the Stock Exchange within moderate proportions there was to-day a noteworthy recovery in German bonds. Yesterday 7 per cent. Dawes bonds fell 74-1- and. 6J percent. Yoiing 'Bonds to fifty ; this morning they were strong at eighty and fifty-sjx respectively. The improvement follows yesterday's meeting in London between Dr. Schacht (president of the Reichsbank) and Germany’s long-term creditors from Britain, Sweden, Holland, Switzerland and United, States. The meeting was not of such a character that a binding agreement could be reached, but Dr. Schacht agreed to the important principle of priority for the Dawes 7 per cent. loan. He did not agree to similar treatment for the Younp- 5i per cent, loan, but expressed desire to have an opportunity of considering all* arguments submitted. The suggestion for postponing the sinking fund of the Young loan was referred to the Bank of International Settlements. It was also agreed, apart from consideration ufFec:tinp; the Dawes and Youncr loans, that transfer for interest payments should have, both on long and short term credits, priority over transfer for capital payment. Another meeting will be held shortly.