MONEY MARKET

Hokitika Guardian, 5 December 1930, Page 4

MONEY MARKET

SYDNEY RATES. (Australian Presß Association) ' SYDNTY, December 4. The investment market is generally most irregular. Commonwealth bonds have strengthened slightly, and ill these a large volume of business is being done. Bank shares have also firmed, except in a couple ctf instances. Bank of New Zealand shares were again a hit weaker to-day at 575. Goklsborough Mort shares reacted to-day, following on the announcement that no interim half yearly 4 dividend is being paid this month,' owing to the low. prices of primary products and. the uncertain political and financial ..outlook. Disbursement considerations are accordingly being held over until March. The Kauri Timber Co. Ltd., during the year ended August 31, made a net profit of £18,643, which is £2,287 below that df the previous year. A dividend is being paid at a reduced rate of 2$ per cent., and £282 being carried! forward.

SYDNEY CONFERENCES. SYDNEY, December 4. A representative conference of the primary-producing banking mercantile, and insurance interests to-day discussed the financial outlook, and condemned any attempts to inflate the currency. A resoluVon was passed that, unless steps were taken imme* dintely to reduce the costs of the primary industries, they must cease operation, and a serious financial . collapse would be inevitable. . .i v At a conference of gold producers Federal Ministers and representatives of the Commonwealth Bank, it was decided to form a gold pool, with a Board to supervise the payment of the proposed bonus, on gold, and also to take control o'f the sales of gold.