NEW ZEALAND STOCKS

Wairarapa Times-Age, 19 October 1938, Page 6

NEW ZEALAND STOCKS

QUOTATIONS IN LONDON. FOLLOWING ON ELECTION RESULTS. By Telegraph—Press Association—Copyright. (Received This Day, 9.55 a.m.) LONDON, October 18. The “Financial News” says Labour’s return in New Zealand disappointed the bond market. There was not much selling, but the stock was picked up quietly by buyers hoping for a swing of the pendulum as the outcome of dealers, as a precautionary measure, having lowered prices. Falls in leading New Zealand bond issues, compared with October- 14, are: —3 l per cent stock, 1940, one-quarter; five per cents, 1945, one-half; 41 per cents, 1945-58, one-half; three percents, 1945, one; three per cents, 195255, three-quarters. . PRECAUTIONS TAKEN. STATEMENT BY THE HIGH COMMISSIONER. By Telegraph—Press Association—Copyright. (Received This Day, 10.55 a.m.) LONDON, October 18. New Zealand House is taking precautions to allay anxiety in financial and other quarters as the result of unfavourable comment on Mr Savage’s return. Mr W. J. Jordan told the Australian Associated Press: “I have informed those concerned that they can rely on the Prime Minister not doing anything detrimental to any interests vital to New Zealand. I reminded them that New Zealand had never defaulted and pointed out the difference between the Government’s policy and what the Opposition would have the public believe.” Mr Jordan admitted that in some financial quarters it was feared that Mr Savage would now embark bn drastic socialisation, but said he was very satisfied with Mr Savage's latest reactions.