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REACTION TO LASKI SPEECH LONDON, August 3. In spite of the fresh cold douche administered to the stock market by the implication of Professor Laski's broadcast about Labour's nationalisation plans, gilt-edged stocks generally are firm, and there have been some recoveries among iron and steel and public utilities. The Financial Times, summing up the situation for the last four months, limits itself to the sober statement that "The primary trend of tha market at present is pointing downwards." Discussing the rises, it points out that many companies in the electricity supplies group were already subject to purchase by local authorities at fixed dates—some within a few years—and investors, knowing this, are willing to purchase at much higher prices than those ruling at present. Since the terms of purchase are already fixed, it is suggested that the prospects for shareholders are no worse than before Labour came to power.

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Bibliographic details

SECURITIES MARKET FIRM, Auckland Star, Volume LXXVI, Issue 185, 7 August 1945

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SECURITIES MARKET FIRM Auckland Star, Volume LXXVI, Issue 185, 7 August 1945

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