AUSTRALIAN STOCKS

Nelson Evening Mail, Volume LXIV, 10 January 1931, Page 7

AUSTRALIAN STOCKS

MARKET MORE DIFFICULT THE EXCHANGE DEPRECIATION (United Pres* Association— By Electrio Telegraph-Klopyrlght) (Received 10th January, 8.30 a.m.) LONDON, 9th January, . The “Financial News” says‘that the market for Australian stocks is more.,. , difficult, and dealers found it impossible to handle all that offered. It was, j impossible even at one time to,get bids /- for New South Wales and Victorian ' loans. The former were most unpopular. The public’s selling orders Were'" definite. That yesterday’s prices had to be taken to avoid the risk of worse. Australia’s exchange depreciation made ! ‘ a deep impression oil the public, whose niemory of post-war currency troubles ' in Europe is lively enough to causegrave fears. FIGHT TO RE-ESTABLISH • • • POSITION LONDON JOURNAL’S COMMENT (Received 10th January, 8.30 a.m.) LONDON, 9th January. Urging that it was time that. Britaintook cognisance of Australia’s 'magnifi-A’ cent fight to re-establish her position . the “Daily Express” complains that .the affairs of the Empire take second place in the City of London compared with . those of almost any other country.. The A ' editorial points out that an Australian.: .. wanting to .buy £IO,OOO worth of elec- —’ triad equipment in Britain , has to .pay £11,250. “We here have not only/huge ’ hoards of unused money, but the power yj (j of extending credit is also limitless. ■ The. - V time lias come when the money masters'?/: of the city should execute a change of ‘ front, and assist Britain and Australia by abolishing the tax on Anglo-Aus-tralian commerce, represented by the. differences in exchange.”