Market Still Weak

Hawke's Bay Herald-Tribune, Issue 89, 1 May 1937, Page 5

Market Still Weak

-Pracc Aua.

BOURSES DEPRESSED Defence Loan's Poor Reception il m MINING GROUP BUYS

,(Bjr Telacrkpb-

— Gopyriehf.)

\.»eeeivea a, y.oo a.m.; LONDON, April 30. The Atxstralian Associated Press' Ci^r ©ditot says: "Altfiough there are signs of substantial disCriffiinating buying, the ffiarkets are Very weak. Gold sharee were agalfi. sdld, and olls and industrials were depreaeed. The weakness of the . xnarketa has now spread throughout the world. ContinenUl boxxrses, eepeciaily Paris, were all sererely hit. Wall Street waa SUbject to ware after wave of selling, and even rtock exehaflfee as far away is Bombay were broktti badly.' ' City" men declar© tfiat* there fs poetie justice in the reaulf of th© first insfcalrnenfc of the defence loan, of whCch ortly 20 per cent. is believed to have been taken xip. It opened at $ per cent. discount. The City wonders whether the Chancellor' will at last realise that he canjtot maintain gilt-edged securities U iesattltf On equity ind the taking of i4tke afe to be to element in business Fduf pdwerfnl fnining finance hotrsee — namely* the Centfal Mining Corpdfi* tion, Rand MifiCs Ltd., COndoKdated GoldfieMs of Sotxtfi AfrxCa tod the Sit Abe Ball©y grOup— Agreed to suppoft ehaxes in whiclf they have an interest to the extent of £4,000,000, resulting ua the maritets closing with a more cheer fd tohi,