RETURNING BUOYANCY

Sun (Auckland), Volume III, Issue 893, 10 February 1930, Page 9

RETURNING BUOYANCY

AUSTRALIA’S PRECARIOUS FINANCES

LOANS NOT FAVOURED Reed. 11 a.m. SYDNEY, Today. The Stock Exchange investment market has shown some activity, but the prices are irregular. Influences which had affected the trend of prices during recent days remained predominant. Support continued to be transferred from Commonwealth Loans, which again tended easier, to favoured industrial stocks. Dalgetys rose ss, and Commonwealth 5J per cent, bonds fell 2s 6d and 6 per cents, fell Is 3d. A message from Canberra says more help is to be sought from the banks in the effort to solve the Commonwealth’s financial problems. The Federal Treasurer, Mr. E. G. Theodore, stated that representatives of all the banks had been invited to meet Mr. B. S. Stevens, Treasurer of New South Wales, and himself at Canberra next Thursday to discuss the subject. A New York message says the New x ork newspapers will tomorrow morning in their financial pages contain a long statement, issued by the Australian Commissioner-General, Mr. H. Brookes, in the name of the Prime Minister, Mr. J. H. Scullin, and the i i easurer, Mr. E. G. Theodore, concerning Australian finances. There is widespread interest in the matter. Officials of Messrs. Blair and Company, referring to the cabled reports Lom Sydney that the arrangements tor a loan were completed, said that made mte settlement had not >’et been