THE MONEY MARKET.

Taranaki Daily News, Volume LVI, Issue 4, 5 June 1913, Page 5

THE MONEY MARKET.

OPERATIONS OX STOCK EXCHANGE.

By Cable—Press Association—Copyright.

London, June 3.

The Stock Exchange closed in a more cheerful condition. Canadian Pacifies were active. The "bears" were roused to cover Desain and Button, stock jobbers, who were hammered. Their liabilities, however, are not serious.

The Pall Mall Gazette says that the situation on the market is distinctly unpleasant. There have been many forced liquidations in certain directions, credits being curtailed.

Tl.e Victorian loan, the paper says, is on a different footing to the rest, as it is for che redemption of a previous loan. Tho Victorian operation really aims at reducing the debt.

The Westminster Gazette says the fact that ~a million was withheld makes the Victorian loan less formidable than it seemed at first sight.

•FINANCIAL STRINGENCY. Received 4, 11.40 p.m. St. Petersburg, June 4. High financial authorities consider that the Chinese loan is a perturbing factor in the world's money market. Its attractiveness has lowered all international securities. Greater stringency will be felt when the Balkan crisis is ended, as the belligerents will require a hundred million sterling to make good the wear and tear of the war.

CONTINENTAL BOURSES RECOVERING. Received 5, 12.15 a.m. London, June 4. Hammered firms' commitments are estimated at three-quarters of a million. Monday's slump is considered to be due to the hasty acceptance of foundationess stories, aided by the nervousness of heavily-laden under-writing operators. Candian-Paciflc stocks and the Continental Bourses are recovering.