THE MONEY MARKET.

Auckland Star, Volume LIX, Issue 172, 23 July 1928, Page 4

THE MONEY MARKET.

INTERNATIONAL FINANCE

BRITISH BONDS IN WALL STREE'I

Considerable interest was taken in Anglo British financial circles when it was announced recently that two British Government loans were to be listed on the New York Stock Exchange. The first issue listed was the .C.'WS'.OOO.OOO 4 per cent i\ funding loan of J}»t>o- This was the largest foreign Government issue evci listed on the New York Exchange. but it was followed a few days later by a still bidder one, tho ,C2.088,173,(i38 5 per cent loan of VJ29-H)4i). .Amongst the advantages expected to accrue from this development, is that nu extensive public market in securities of this character simultaneously in two great financial centres will tend to stabilise values, and will offer to industry and commerce ai convenient means of settling trade balances. From the British standpoint the reason for listing these loans in New York is found chiefly in the problem of the British national debt. The London market is somewhat overloaded with jjilt-edged securities, and it is considered that the disposal of some of these on the American market by reducing .the interest rate may eventually lower the British Government's o^ e,fc char ««" a j v * ot' the first listing was a sharp ■ nvaatirl.il 1 ,e m "> ket value of British provoked hut hi London it of ii»crenJii.!?Vi" on " s 40 the url '•» A