FINANCE AND TRADE

Nelson Evening Mail, Volume LXIII, 15 July 1929, Page 9

FINANCE AND TRADE

LONDON STOCK EXCHANGE

I BUSINESS UGSTIUQED SIGNS QK IMPROVEMENT (United Press Aesooiation-By EUotrio T«lcgrftpn—Copyright,) (Australian Press Association) LONDON, 13th July. Business on the Stock Exchange, is still restricted, arid accounts just concluded are said to ho the smallest, o the year, but signs of improvement and relief of the monetary tension through the recovery of American exchange brought about a marc cheerful tone. Early this week gilt-edged stocks recovered a portion of their recent fall, but industrials generally remained unresponsive to the better money conditions, although tin mining shares developed some activity, probably due to the hopes entertained of good results following the formation of the Producers' Association. Discussing the situation a prominent financial writer says the outside public have not yet sufficiently recovered from the recent losses to bo ready to take a hand ill speculation again. Moreover, an enormous amount of money which otherwise would be available is tied up in rubbish shares which at present 'prices could only be realised at a heavy Joss The investment demand tor highclass industrials has continued subnormal for a good many weeks, and in view of the political uncertainties is likely to remain so until something occurs to bring home to potential investors the improved British trade outl°°k - . i.. r. 1 > 1 The formation of the Producers Association met with general approval, as it is regarded as likely to have valuable results, judging from the/ experiences of other industries which have taken similar co-operative action. It is understood that foreign producers, notably Dutch and Bolivian, will be invited to join the association, which at present is 'all-British. The tin outlook generally .is regarded as favourable. There has been heavy buying, especially in America.