MARKET RECOVERY.

Auckland Star, Volume LXIX, Issue 155, 4 July 1938, Page 6

MARKET RECOVERY.

WALL STREET PROGRESS. STILL DOUBTED IX LONDON. LONDON, July 2. Although Wall Street has resumed it* advance after momentary profit-taking, prudent observers have not vet been per- ». i.i.led that the recovery will be lasting. London would feel more comfortable if Wall Street slackened it* tempo, but there ar* a number of factors inspiring hope. In generally firm commodity markets an outstanding feature nas been the rapid advance in the rubber trade. The demand from the Continent, especially Germany, is good. The outlook for base metals also is brighter. The United States domestic copper sales have shown marked improvement, and a farther rise in price appears certain. Lead also is higher. There has been heavy baying of spelter in London during the week. LONDON QUOTATIONS. LONDON, Jury 1. Hatha "Dredging, buyers lOVid. sellers : 14; Molyneux, buyers 1/, sellers 1.3. War loan. 3% per cent, £102 2/6. INTEREST RATES.

The return to the inrestor on his outlay, based upon the latest dividend*, work* out as follow* on the latest sale*. WhenGovernment stock* are included, the calculation provide* for redemption* at the earlier date of maturity. When payment ia made in sterling, exchange is added. In the case of local body issues allowance ia also made for 20 per cent interest redaction:— PER CENT PER ANNUM. £ s. d. Commercial Bank 4 3 lfl Bank of New Zealand 4 13 O New Zealand Insurance .... 3 12 O Coldsbrougli. Mort 4 IS 3 British Tobacco 4 4 3 Broken Hill Pty 4 2 3 Colonial Sugar 3 4 7 Electrolytic Zinc « 1« 6 Farmers' Trading 7 O O Peters Ice 8 14 O Mount Lyell 3 6 8