LONDON MONEY MARKET

Evening Post, Volume CXVII, Issue 148, 25 June 1934, Page 12

LONDON MONEY MARKET

- GILT-EDGED DEMAND

Dnltea:' Press ;"Assoclatiuii--fßj Electric Tele- ■"' ::.;' y. eraph—Copyright.' : .".-■ '■''-. '.) ": ■■''':; y- : : LONPOISr, June 23. : South African -goldrmining shares are still the only section on the Stock. Exchange showing- any 'considerable: amount of activity; birt although not much business is doing in other departments the general tendency has' been steady. A satisfactory feature has' been 'the firmness of gilt-edged securities, all British funds showing a: good recovery .from the recent level.' Australian and New Zealand, Government stocks maintain their position. .; ' , .. • "CThe. Statist";"thus ■describes-.the; situation: The general undertone is still' fairly firm, while ;the technical; position is such jthat a.m'pderate_ revival of investment demand'should quickly be reflected in prices. Confidence in the domestic situation does hot show-sign's of weakening, and as the field io.r investment 'is still .largely confined to Home and Empire markets.an accumulation of funds for .which' employment has to be found must again make its influence felt. . . ■.■-:". .-...■

The Southern VRhodesian loan, failed to attract ,the full subscription, the ' underwriters being: left with.3s per cent, of their applications. The' stock is quoted at' about 1 per' cent, discount. ' ' ; '