STOCK EXCHANGE

Waikato Times, Volume 124, Issue 20735, 20 February 1939, Page 7

STOCK EXCHANGE

MORE CHEERFUL TONE

BETTER BUSINESS AND PRICES

SETBACK TO TRADE OVER

United Pre3s Assn.—Elec. Tel. Copyright

(Received Feb. 20. 11.30 a.m.)

LONDON, Feb. 19

Although business on the Stock Exchange has not been active the account closed yesterday on a cheerful BCM,

Several factors during the past few days have combined to bring a revival both in business and prices for giltedged stocks and industrials.

The first was the reception given to the White Paper on defence, which was accepted as an indication that the enormous expenditure on defence was lively to make war Improbable. Then came Sir John Simon’s optimistic speech and Mr R. S. Hudson’s expression of hope that the setback from which trade had suffered was over. Lastly came the events in Spain, which are refiarded as an indication of early peace there. It Is also considered that the Government's plans are not likely to add materially to taxation. Wool In Demand The Bradford market has been much more cheerful, in the belief that the corner has been turned. Increased activity is likely soon, due to the improvement in the international situation stimulating new business.

Every important wool-consuming country seems determined to build up stocks while prices are at a reasonable level.

TURNOVER IN NEW YORK

A TOTAL OF £680,000

limited Press Assn.—Elec. Tel. Copyright)

NEW YORK. Feb. 17

The turnover on the Stock Exchange vas £680,000.

SALES AT AUCKLAND

(By Telegraph.—Press Association)

AUCKLAND, Monday Sales recorded on the Stock Exchange to-day were as follows: Bank of New Zealand. 3!)s 3d. Westport-Stockton Coal, is 2d, pref., 7 s 9d. British Tobacco, 50s. Mi. Morgan .Mine, 11s id.

Late Sales Electriclytic Zinc, pref., 50s 9d, Reid Rubber, 255. Woolwortbs Holdings, 15s 2d.

Afternoon Call

Farmers’ Co-operative Auctioneer Ing, A pref., 20s: B pref, 19s 3d. V British Tobacco, 50s. Hill Proprietary, 58s. G. J. Coles, 795.

Taranaki Oil, 9s lOd. Woolwortbs (New Zealand), 17s 9d; Sydney, (2), 23s 6d. Auckland Hospital Board debentures, 1/6/43, £2OO 10s.