GERMAN BONDS

Hokitika Guardian, 20 June 1933, Page 5

GERMAN BONDS

: GOOD RECOVERY AFTER LOAN CREDITORS MEET. (British Official Wireless.) RUGBY, Juno 17. While the uncertainty regaining inter a,, Cionai an airs is liui.iuy lCspOu-' juu..« ror Keeping the business on tut lioudon Stock itxciniuge witnin moderate proportions, tliore was to-uay (oatuiaay) a noteworthy recovery in German bonds. . Yest-udav the 7 per cent Dawes Rian hands fen to ,-ii, and the 5-1 per cent Young plan bonds to OU. 'lins morning tncy were strong at SJ anti ob respectively. This improvement follows yesterday s meeting at London between ilerr Schacht (president of the Reich shank; and Germany’s long term loan creditors from Britain, Sweden, Holland, Switzerland and the United States. The meeting wa s not of such a character that any binding agreement could be reached, but Herr Sehaht agreed to the important principle of priority for the Dawes seven per cent loan. He did not agree to similar treatment for the Y T oung Plan 5$ per cent loan, but he expressed the desire to have an opportunity of considering all of the arguments submitted. A suggestion for postponing tlio sinking fund on the Young loan is being referred to the Bank of International Settlements.

It also was agreed that apart from the consideration affecting the Dawes and Young loans, trails.er for interest payment should, both on the long ana short term credits, have priority over transfer for capital payment. Another meeting will he held shortJv.