LATE LOCALS.

Hokitika Guardian, 10 May 1921, Page 3

LATE LOCALS.

A notice of thanks appears in another column.

A Wellington correspondent says Government stocks arc receiving the most attention just now, and under the pressure of the demand are hardening, some of the stocks showing an advance of 20s and more. This buying of Government stocks is*a new development, and somewhat difficult to understand. Of course, the stocks are mostly free of income tax, find are at a discount, hut last year discount did not attract buyers, and the discount was larger- than it is at present. It looks, rather, as if investors are rushing for safety! The heavy taxation and the moratorium with respect to mortgages and deposits have been disturbing factors, and, further, the markets are all falling, and this latter fact must affect trading and industrial companies, and even some financial companies, hence the shares of these concerns are not regftT&?a m investments just now, Bank shares are an exception, and they maintain a firm market;