AUSTRALIAN FINANCES

Hokitika Guardian, 2 July 1929, Page 3

AUSTRALIAN FINANCES

(tMPjppytED,’ OUTXQOTG • '■ • ■ ■ C _ i • /p- ' ~ .< Australian Press Association) •;* f -(Received this day at 9.25 it. in.) • ' SYDNEY, Juty 1; , 1 -i [.Financial .commentators regard [the J *'• gacoesa- of the. jbW.o loan issues on the - Australian loan 'mark.et duriiig Hie. /past week; -as indicative that a large ' i ■ aumunt 'of’imoney is'Still available "for . Viuvesbment in gilt-edged stocks, -S.qcli. - VT-i -asl *,provide a .steady income .free of all f ' risks. These issues' were the Mel-. . ' -bourne -Harbour Trust, of - four hun- : [tired thousand, -interest <£s -12 s 6cl per . ' cent., and Sydney Water Hoard’s million ,and a half which returns £5 11s, and met with a [ready response, • s lirtiprp.'vement -is also.’noted -in tjhe.: :in(siftcet 'for ! ‘ Gommdnwealth . (Govern-:: [merit loans, , which [is " hailed as a sign - . w [since '.b'uyjrig 'has iffbt been- •>, at the expense of industrials or general trading stocks. ... * . .-Australian Paper [Manufacturers, ■■■ Ltd., yliav.e decided, to reduce ' the; > capital by £320(000 Sterling to £l,280,000 in order .to extinguish tin- ' tangible assets 1 and. wipe off losses I '. '; resultyig .f,ro,ni C‘oyo. mills ~*fijre last;.Octaber, .capital-

in-.constituent companies is unaffedt-

,ed' hut it is anticipated :..Jhe iprjuning: i d dead wood will enable earlier pay- f •ment-of normal -dividends. ' ' dtepresentatives of pastoralists and -other ■ primary 1 tpr oducers continue jto‘ .dyaw .attention /to 'the increasing bur-. ~d,oii ’of is craiup.ipgi: \deycl6pment