LONDON EXCHANGE.

Auckland Star, Volume LXVII, Issue 272, 16 November 1936, Page 4

LONDON EXCHANGE.

' ,| MORE SUBDUED TONE. j AMERICAN INFLUENCE. "EOOSEVELTIAV POLICIES. , i (Received 10 a.m.) LONDON, November 15. r Last week's boom-like conditions proI tinted a reaction early this week. The | 0 upward movement lost momentum except . in one or two individual groups, such as | - tin shares, which have not yet discounted t the gains from the increase quota. How- ; c ever, the growing activity of trade and s the belief in further progress have gener- | - ally maintained the strength of public f securities which, despite the darker backe ground of European politics, is stul i stimulated by Mr. Roosevelt's victory, t which is expected to further advance -'American industries. Nevertheless, Mr. , •" Koosevelt's subsequent references to the d possible control of foreign buying ot American securities have greatly surprised the city, as the imposition of restrictions > of dealings by citizens in a is unprecedented in pe<ice time. l'inancial commentators consider that Air. Koosevelt L " aims at preventing a repetition of the c boom catastrophe of 1929, while American authorities are possibly perturbed at the recent rapid appreciation of the dollar, g m!l in!y due to the influx of foreign funds II for investment. '> The markets closed the week with a somewhat .subdued tone, partially owing ?1 to profit-taking. Industrials and giltedgeds were firm, and Dominions quietly steady. T Tin closed at £242 per ton. Lead and G spelter were active. Silver had a booind let during the week, and touched 22 15-10 d ). when Indian speculators became sellers. Several million ounces are reported to ' have changed hands, until brokers had difficulty in finding buyers. The price | finally declined to 21d. Dutch May Come In. l. "The Times" Hague correspondent states that there is good reason to believe \ the Dutch Government will shortly adhere „ to the Franco-British-American monetary 1, agreement, for which negotiations have :- entered a final stage. Dutch official opinion does not regard the agreement as likely '' to reduce trade barriers, but believiss that ' any plan offering a hope of thawing frozen channels of trade should be . supported. German Policy. The Berlin correspondent of "The if Times" reports a sharp fall in the prices 0 f foreign securities on the German fetock > Exchanges. This is attributed to the l " belief that the Government intends to u confiscate foreign investments held by Germans in order to obtain foreign ex- ' change for the purchase of necessary imports under the four-year plan. It is presumed the holders would be given compensation in the form of interest bearing Treasury certificates, as were Italian owners of foreign investments confiscated by Signor Mussolini to obtain g foreign exchange during the sanctions g period.