BRITISH BANK RATE
FURTHER REDUCTION ANTICIPATED CONVERSION LOAN ISSUE Itced. 9.5 a.m. LONDON. Saturday. Although no announcement has y-;t Ix-en made regarding the result uf tile ! Ciovc rnment’s new 5 per cent, conversion loan, which <:lc*sed yesterday, it l is generally believed that the cash subscriptions have been satisfactory. During the past D■ v days, prospects it easier money rates have stimulated i pnlie; nts. and large amounts have hen subscribed. The position is being further helped by the reduction I in the New York bank rate-. This has given rise to an expectation that : the English bank rate may be lowered next Thursday. Despite the improved monetary position. the Stock Exchange has been depressed, chiefly owing to the renewed weakness of the New York and Continental Stock Exchanges. Giltedged stocks alone have maintained a firm front, industrials having gen- ; cralv suffered from a considerable j amount of forced liquidation. This ! has even been the ease with many ! stocks on an admittedly high status. ! which are usually able to withstand | the shocks which affect the more spec- • illative issues.
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Bibliographic details
Sun (Auckland), Volume III, Issue 823, 18 November 1929, Page 10
Word Count
179BRITISH BANK RATE Sun (Auckland), Volume III, Issue 823, 18 November 1929, Page 10
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