AUSTRALIAN MARKET.
It is largely the influence of the.Australian market- which is responsible + for depressing local stock values, and •connection the latest report issued by Messrs. J.B. Were and Son. is of interest. Writing on January 17, this well-known firm of Melbourne brokers state:— . "We expect to see a large number of companies disclose lower -profits for the current year,and a reduction -of dividends in some cases, and the absence of bonuses in others is ;being freely, forecast. . "The market is still somewhat apprehensive regarding the possibility of other banks following the lead of the New South Wales- and the -Union by bringing down their/distributions,-'.; and., there is; increasing uneasiness as to the Federal Labour Government's intentions regarding further amending banking legislation." ■.-.". ' . The"average>retiirn on Commonwealth bonds is now £5 15/6 per cent. The same writer predicts a good deal of irregularity in the market during the course" of' the, next month or so, with probably a further easing in prices generally. Many, investors are waiting the "terms of the next. Commonwealth conversion issue, *
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Auckland Star, Volume LXI, Issue 24, 29 January 1930, Page 4
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173AUSTRALIAN MARKET. Auckland Star, Volume LXI, Issue 24, 29 January 1930, Page 4
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