“SMALL CREDIT RELEASE”

Press, Volume C, Issue 29554, 1 July 1961, Page 16

“SMALL CREDIT RELEASE”

Banker’s Comment (N.Z. Press Association) MELBOURNE June 30 i Last night's announcement lof a relaxation is interpreted as the beginning of I the Government’s planned t “moderate increase” in t credit foreshadowed in rer cent policy statements by the Prime Minister (Mr Menzies) and the Treasurer (Mr Harold Holt). > The economic adviser to 1 the Australian Bankers’ Asr soclation (Mr Game) said I last night the amount of - credit released was small, s but would give the banks - much-needed flexibility in their lending. ’ Sharemarket Indices r Sharemarket Indices are:— ; New Zealand.—Reserve Bank ■ (January 14 1958 equals 10001 f Aust

London.—Financial Times (industrial ordinary 1935 equals 100 Government 1926 equals 100: gold 1955 equals 1001 tndust

Colombo Tea Sales <N Z.P.A .-Reuter—Copyright) COLOMBO. June 30. There was good general demand for the 7,710.778 lb of tea offered at this week's Colombo auction, says the official report. , A few best liquoring Dim-bula-Dickoya broken were in > strong demand ,t firm rates, . but other kinds were gent erally easier. > There was good demand j for medium broken® at around firm rates for plainer i sorts, but better kinds were s about 5 to 8 cents a lb • lower Uva teas were tn slightly 1 less demand and were genj erally about 2 to 5 cents a lb lower. Low-grown teas 1 were in strong demand at ) firm to dearer rates. ’ Quotations:— High-grown b.0.p.. 250 cents a lb; good medium j b.0.p.. 210; medium liquoring 1 b.0.p., 208: medium liquoring 1 broken Pekoe. 168; medium liquoring Pekoe tannings, 207: ; medium liquoring orange Pekoe, 210; low medium, b.o.p, 1 192: low medium Pekoe fan- ! nings. 200: low medium ’ orange Pekoe. 202; low med- . ium Pekoe. 204; medium Per koe. 210; good Pekoe. 260

N.Z N.Z Shares iaeo ord pref, in N Z Jan 28 .. 1242 971 1161 Sept 8 .. 1364’ 1019 1245 Sept. 29 .. 1352 997 1208 Oct. 27 .. 1325 1001 1187 Nov 24 .. 1259 998 1109 Dec. 15 .. 1264 997 1090 1961 Jan 19 .. 1237 997 1058 Feb 23 .. 1220 991 1000 Mur 30 .. 1198 900 979 April 27 .. 1191 963 1051 May 25 1201 983 1053 June 22 .. 1164 969 1094 New Vork.—Dow Jones

Kalis Indust Share soid. Jan 3 160 43 685 47 3.710.00 Dec 30 130 85 615 89 5 300.000 1961 War 30 148.20 676 63 3.6m iwif May 19 147.56 705.96* 4.200.000 Wav 81 11491 696 72 4.320 in" June 26 138.58 681.16 2.690.000 June Zl 137.75 683 88 3.090.000 June 28 138.46 684.59 2.830.000 June 29 138.30 681 95 2,560.000

I960 ord Gov1 Gold Jan 4 .. 342 9* 89 94 89.7 Uec 30 .. <05.3 7» 12 75 0 1981 Jan 3) . 314 2 78 42 75 0 Mar 30 .. 342.2 78 25 64 8 April 28 .. 342.8 72 84 59.3 May 15 .. 365 7* 78 67 56.1 May 31 .. 351 5 77 63 642 June 21 .. 330.6 76 12 58.9 June 22 .. 329.6 75 98 58.4 June 23 .. 327.2 75 82 58.2 June 26 .. 324 1 75.41 56.1 June 27 .. 319 4 75.08 55 3 June 28 .. 321 8 75.01 55.8 June 29 .. 322.8 75.23 56.3

Sydney.—Sydney Stuck e-x Exchange (July 1931-June 1939 equal? 1001 1900 Banks Retail indue Sept 16 149 06 459 33 •347 98 Dee 23 128 4? 350 74 2966' 196) Jan 31 134 32 360 21 301.14 Feb 24 133.52 362 05 309.21 April 23 134 69 371 80 324 57 Mav 41 138 11 385 38 335 42 June 23 136.27 388.37 335 81 June 26 V6 09 3°8 72 334 67 June 23 135 68 392 09 334 71 June 29 135 45 392 68 334 16 June 30 135 31 391.74 333.27 •Peak