MARKET IN NEW YORK

Press, Volume CV, Issue 31047, 30 April 1966, Page 18

MARKET IN NEW YORK

Decline, Then Rally (N.Z.P.A.-Reuter—Copyright) NEW YORK, April 28. New York stock market suffered a sharp decline today, although a late rally helped cushion the fall. A total of 8,310,000 shares Changed hands, compared with 7,950,000 yesterday. Dow Jones industrial average, a leading market barometer, declined 7.13 point to close at 937.41. At one point during the day, the index fell as low as 927.22. The early market drop was led by rails, reacting to yesterday’s Government decision approving the merger of the New York Central and Pennsylvania Railroads, and barring a merger by the Great Northern and Northern Pacific Railroads. N.Z. Reserves Rise Again (N.Z. Press Association) WELLINGTON, April 29. Net overseas assets of the New Zealand banking system were £58.9m on April 20, compared with £57.8m on April 13 and £80.6m on April 21, last year. These figures were announced by the Reserve Bank today. One-for-Four By Broadland (N.Z. Press Association) AUCKLAND, April 29. Broadlands Investment Group, Auckland financier, will raise just over £60,000 in a one-for-four issue of ordinary 5s shares at par, directors announced today. The issue will be made on holdings at June 22 and will lift paid capital to £302,042. Details will be announced later. Shares sold today at 8s 6d. Exchange Closed (N.Z.P.A.-Reuter—Copyright) TOKYO, April 27. The Tokyo Stock Exchange was closed today for the Emperor’s birthday. Ampol Issue Closed (N.Z.P.A.-Reuter—Copyright) LONDON, April 27. Ampol Petroleum’s 6m dollar debenture issue has closed over-subscribed, the company announced. The closing date of the issue was May 6 but as the terms of the Issue did not permit over-subscriptions the directors exercised their right to close it in advance.