UNSETTLED.

Auckland Star, Volume LXVI, Issue 38, 14 February 1935, Page 7

UNSETTLED.

STOCK EXCHANGE. £10,000,000 Depreciation in Consuls at One Time. SHARP RECOVERY LATER. (United P.A.—Electric Telegraph—Copyright) (Received 1 p.m.) LONDON, February 13. The Stock Exchange continued unsettled with fairly large liquidations. Consequently the weakness in giltedged securities continued until the afternoon, when a sharp recovery took place. At one time 2J- per cent consols were nearly 80/ below Friday's quotation, which equals a capital depreciation of about £10,000,000. The war loan was about 60/ lower, equal to a depreciation of nearly £60.000,000. A British official wireless message stated that yesterday war loan, 3 J per cent, was quoted at £107 compared with £108 5/ on February 7. The stock markets continued in a weak condition, and further falls occurred, particularly in British Government securities.

This weakness in the markets was attributed to reports, since emphatically denied by Mr. Baldwin, of an early general election and to the depressing influence of recent losses by commodity brokers involved in pepper dealings.

Government securities are particularly susceptible at present owing to the high prices at which they stand after the steady rise throughout the last three years.