LANG’S MOVE

Hokitika Guardian, 13 March 1931, Page 6

LANG’S MOVE

TO LOWER INTEREST. (Australian Press Association.) SYDNEY. March 12. In I lie New South Wales Legislative Assembly, the Premier. Mr Lang, gave notice of bis intention to introduce a Mill next Tuesday to reduce the rates of interest payable to the New South Wales, and also to amend the Claims against the Government and Crown Suits Act of 1912, and certain other Acts.

AUSTRALIAN £1 LOWER. BUT WOOL RISE HELPS BANKSLONDON, March 12. “Tin* Australian pound lias developed a weakness again,’ ’says the “Financial 'Times.” “Outside market dealings have increased. Business was transacted on the basis of £l3l and £l3lj, with buyers less in evidence. At the same time, the wool trading is still improving, with increased prices. If that movement continues, there is little fear of a decline in the sterling balances of the Associated Australasian Banks.

RISE IN SHARES. SYDNEY, March 12. The spectacular rise in share values continues on the stock exchange. The new eoiifidenci\ of buyers lias been forcibly demonstrated b.v the fact that no fewer than 38 issues to-day record rises on the first two calls. Exclusive bonds were sold and in vestibule denis twenty-two thousand shares changed bands. Bank of New South Wales shares found an active market. Fifty were bought for £3O/1.5/- apiece. Other bailies’ shares were firmer than usual.