THE MONEY MARKET.

Auckland Star, Volume LVIII, Issue 43, 21 February 1927, Page 4

THE MONEY MARKET.

TREND OF INVESTMENT. SYDNEY'S CALL FOR CAPITAL. Company new issues occupy an out- | standing position in a review of last j year's financial operations, and were especially numerous in the latter hah of the year (says the "Sydney Morning Herald"). There was ample evidence of an unusually large amount i" money seeking investment, and the opportunity was taken of securing on the market new capital for a wide range of undertakings. An estimate of the total of new share issues made in Sydney in 1926 places it at about £16,250,000, of which approximately £12,500,000 was represented by ordinary shares and £3,375,000 by preference shares. Of the total new capital called for by soft goods and department store amounted to nearly £2,500,00. including £2,000,000 required for the dotation of Anthony Hordern and Sons. Banks made issues involving a sum of over £2,000,000. A new field for capital, motor finance and investment, sought £1.200,000, and motor agencies and construction and taxicab interests absorbed £600.000. For new issues in rubber manufacturing companies the market provided £925,000. Gas companies secured £474,000. FORCING ECONOMY. In the Dominion financial stringency has not yet been felt (says the "Mercantile Gazette"J. At the same time those seeking banl* accommodation are not finding it quite an easy matter, although where there is adequate security there are scarcely any restrictions. It would be rather beneficial than otherwise if the banks were sparing in the accommodation granted, for that would force the trading community to face the situation.