OFFICIAL WIRELESS

Hokitika Guardian, 20 June 1931, Page 5

OFFICIAL WIRELESS

GERMANY’S MARKETS

EFFECT OF LOAN TO AUSTRIA. , (British Official Wireless.)’ •RUGBY, June 19. The City (Editor of (.he ‘-Evening Standard,” comments on there being a more assured feeling in the markets reported from German financial circles, Of which, he says, features of promise are that some money has already retuvnied to Germany, and that the (Reichsmark has been steadied. He also says; "A most important factor in leading to greater confidence in Germany is the help which the Bank of England is giving Austria. The credit granted to Austria should be the means of restoring stability in that country, and of increasing confidence throughout central Europe.”

german BONDS UP. RUGBY, June 18. A feature of the foieign money market in London to-day was a sharp recove] v in German bonds. THE ROYAL SPECTATORS. RUGBY, June 18. Owing to a brief but sudden rainstorm, which began when the King and Queen were about to drive down, the. course on their visit to the A?cot race meeting to-day. the Royal party went to the pass enclosure in closed landaus. The total takings of the totalisator at the Ascot meeting to-day exceeded £66,800.

BANK OF ENGLAND. A DEFENCE IN THE PRESS. RUGBY, June 18. The news that the Bank of England bad made an interim advance of 150,000.000 schillings to the Austrian National Bank, pending the completion pL,,gcgot: at ions _ for .ap jntevim f Joan to the Austrian Government ’to provide the necessary funds to guarantee the liabilities of the Credit Anstelt, was received at YGenna with an cxpress'on of keen satisfaction. The promptitude of the Bank of England’s action has been warmly approved in financial circles in London. The City Editor of the “Evening News,” says .that, since the war, th Bank of England has consistently pursued a policy d’signed to promote, general world stability, under a conviction that the world monetary conditions are now so bound up together that ev-rv industrial country depends for Br prosperity on the measure of general stability. The Bank's entry into the present Austrian complication, alter appeals by the Austrian authorities, is actuated by this motive.