FEDERAL FINANCE

Hokitika Guardian, 19 February 1932, Page 5

FEDERAL FINANCE

STOCKS SHOW GAINS. U.S.A. BONDHOLDERS SATISFIED. United Press Association —l)y Electric Telegrapli.—Copyright, i

NEW YORK, February 18

Word from Mr Lyons, Australian Prime Minister, that 715,528 dollars 98 cents, being the interest and sinking 1 iilid, would lie forwarded through the Australian High Commissioner of lamdon to tlie fiseal agents for tho New South Wales loans in America, was received early to-day, and it later was augmented by a message from London that the funds would be made available through tile Australian office here. Tile money was not received at the close of business to-day. but it is expected to come to hand early tu-mor-row morning.

Australian stocks have showed moderate gains here to-day. New South Wales stocks were up to two points, and Commonwealth stocks one and a-lialf points.

INTEREST NOW AVAILABLE.

WIDESPR EAD SATISFACTION

NEW YORK, Feb. 18.

Mr ’Collins has arranged that -the New South Wales interest will be available in New York to-morrow, the- bank rate being five per cent. The reduction is hailed with widespread satisfaction, and is considered, in conjunction, with the repayment of French and American credits, to be an indication of a welcome improvement in the international financial position.