INDIAN STOCK FIRM

Sun (Auckland), Volume IV, Issue 969, 12 May 1930, Page 11

INDIAN STOCK FIRM

INFLUENCE OF UNREST CONFIDENCE IN GOVERNMENT Reed. 9.5 a.m. LONDON, Monday. j The behaviour of Indian stocks are among the most interesting points of the financial situation. Disquieting news might be expected to cause considerably depressed quotations, but the majority of Indian securities remain comparatively firm, the City apparently holding the opinion that they amount to a definite obligation on the British Government. Though recent statements from the India Office tend to confirm this view, it is difficult to see how in the most unlikely event of a complete Indian collapse the British Government could undertake to shoulder such a colossal additional financial burden as would be involved. It is hard to believe that this consideration" accounts altogether for the present unexpected firmness, which some well-informed people attribute to private advices from Indian representatives of large financial houses, disclosing a less serious situation than Press reports indicate. The whole position, despite certain parallels, is curiously out of accord with the financial feeling toward Australia, which still exhibits an anxiety and pessimism apparently disproportionate to the facts. FEILDING STOCK SALE Press Association FEILDING, Saturday. The previous week’s sharp rise in the lirices of sheep had the effect of attracting a very large yarding yesterday, when 11,000 were offered. Prices dropped as suddenly as they rose, and today were back to the level of a fortnight ago. Fat sheep, primest Avoolly, made 18s 6d; good, 18s Id to 18s 3d; medium, 17s 6d; lighter, 15s 6d. A special line offered front entries at the Young Farmers’ Club show of last Friday, sold at 295. Two-tooths, 8.F., best quality, made 275; good, 23s to 23s 6d; medium, 22s 3d; poor lines, 15s. • There was a large offering of fat ewes. Best made 19s to 19s 8cl; good, 18s; medium, 16s to 16s Sd; lighter sorts, 14s 3d to 15s 3d; poor, 13s 7d. Fat wethers, very good quality, made 25s to 265; good, 23s 6cl to 23s 7d. Stores: Two, four and six-tooth ewes, running with Southdown rams, made 21s 4d; pool* lines, ISs 6d: four and six-tooth ewes, running with Romney rams, 23s 7d; two-tooth ewes, running with Romney rams, 26s 6d; two-tooth wethers,, good, 22s 6cl; poor, 16s Id to 19s 2d; four and six-tootli wethers, 225; small ewes, 9s; black-faced lambs, to 12s Id; ewe lambs, 12s to ISs 2d; wetlier lambs, 10s to 13s scl; fat cows, light, to £6 15s; heifers, to £8 15s; steers, to £9 ss; vealers, £2 2s 6d to £4. Store cattle: Jersey weaners, to £2 7s; Jersey cows, to £3 18s 6d: cows and calves, £5; I-lolstein cows, £3 ss; steers, £2 17s 6d to £3 ss. Dairy stock sold well. Cows in milk made to £l3; springing cows to £l3.