A BAD WEEK.

Auckland Star, Volume LXX, Issue 24, 30 January 1939, Page 4

A BAD WEEK.

LONDON STOCK EXCHANGE.

WORST SINCE SEPTEMBER,

I ALL CHECKED AT CLOSE. LONDON", January 29. A slight rally ended u nervous week on the stock markets, the worst nince September, fin,ivy llqiiiflntion ccneerl and the full generally wh* (.'heikeil, »pveral «iltedued ldMiifN cloning one-eixhth per cent better tli.in the lowcxt point. American scrip improved, following the recovery on Wall Street, but ludtwtii.ils i cmain low. 'J"lio AtiNtrullun I per rent conversion lounw declined by ,">, to JtUT l."> and Commonwealth W per cent l!i4O-(io bonrln loiu-hrd pai- l<ll the first time 10l eight .vriim. Broken an: recommending holder* to exchange, lower-yieldintf Indian stock* for them. The chairmen of tlir- "Big l-'ive" banks in appfi'liPH .it the iiiinn.il meetings generally urged th ■ (!nv«-i ninciit tu etlVclively aid industry'* export drives to meet the (■oiimiprci.il «, lit. iii-. winch Lnrd yV.inlitiKtnn emphasised hud rrpbieed the lormer exrhiilr.lt 1 i>; «oods for iniitii il benrtit, Norn.- vvele unduly apprehensive legurding the ntute >>t the public riniiiues. Karlicr iii tin , week the markets wci c lllKlllPßtiollilbly 111 a, HOIIXItIVP position. Broker* faced < 'ontinciitnl wollina. whu-li him proftrrnwiv pl.v luwpn-d i|iiotntioiw. reuniting in prices fulling disproportionately to the volume of selling. War loan lout IB 3 to £W> 13/. ani colonial stocks iiittereil ironi stuttered selling, but iinned later. Oernian and other Kirrope.in bonds recovered noun , what after heavy ncllinif on Monday. The drift of capital from London continues.