Markets and Money

Sun (Auckland), Volume I, Issue 269, 3 February 1928, Page 13

Markets and Money

(Continued) AMERICAN FINANCE REDISCOUNT RATE HIGHER Cvblc.T—Press Association. — Copyright. Reed. 12.30 p.m. NEW YORK, Thura. The Federal Reserve Bank has raised the rediscount rate to 4 per cent. The change is expected to have an instant riTect upon the stock market, which lately has been unduly speculative. The * ederai Reserve Board was regarded as definitely committed to a policy of tighter money, and the other ten FedJftl Reserve centres will probably follow th* lead of New York, Chicago Richmond, all three of which are now 4 per cent.— A. and N.Z.

LONDON MARKETS CONSOLS AND COLONIAL STOCKS hit Cable.—Press Association. — Copyright. B * c *- Noon. LONDON, Thursday. for 4 -' onao l s an *d colonial Feb. 2. Jan. 26, o— , £ s. d. j: s. d. ss 5 0 55 10 0 rTo £* r Loan, 3i 99 15 0 J«l 6 0 .tT'- *ar Loan, 5 . 101 15 0 101 15 0 . 2»er»ton Loan, Si . 77 0 0 77 10 0 q*!**-!’ 9S 17 6 9S 17 « im. .Australia. 6, vll?-* 1 . I" 1 7 R 103 15 0 v!" Zealand. 4, 1929 99 0 0 99 0 0 vli Zealand, sj 1940 s 7 0 87 10 0 vIZ Zealand, 3, 1J45 79 b 3 79 15 0 ,7-. Zealand, «. i,J, - 5 l 107 0 0 107 0 0 FOREIGN EXCHANGES ko-.i, n rateK 0 f exchange on February j ’"Pared with par rates, or as aver- * 9 first half of 19}4, are:— fc..,, . Feb. 2. Jan. 26. Par. pi?**!*, fr .. .. 34 9* 34.99 25.221 2r2J.fr 124.01 25.22 J k r 1g.15 15.17 18.12 SS; J‘ r 15.32 18.32 18.12 gOpen.iagen, kr... 18.20 18.20 18.12 Rm 20 42 20.45 rCP* Uve .. .. 91.99 92.10 23.22 J Y„!n u . ITenee .. 18 l-i« is 1-8 24 ? ma ' Pence 23 1-16 23 1-a 24.43 Kong pence 24 7-16 24 1-2 24 vZl'i*'- dollars 4.8 S 4.88 3-16 1.566 dollars 4.87 3.16 4.87 1-2 4.866 fi. 12.08 12.08 1-8 12.107 t »'ia, 11. 12.09 1-4 12.07 3-4 P. AND O. STOCK a od o. Deferred Stock is quoted