MONEY MARKET.

Dominion, Volume 1, Issue 23, 22 October 1907, Page 5

MONEY MARKET.

CONSOLS IMPROVE.

WALL STREET STILL FEVERISH. SOME RECORD PRICES. BT TELEGRAPH—MESS ASSOCIATION—COrYMGHT. New Yorll, October 20. Feyorish soiling of largo blocks of railway shares continues in New York. l'osterday many shares touched the lowest price)recorded for years. London, October 20. .Consols lefti- off yesterday at 831, a rise of 12s. 6d. since Friday. BETTER TONE. BANKS FOUND TO BE SOLVENT. (Rec. Oct. 22, 0.22 a.m.) :., Now York, October 21. ,A better feeling prevails on tho New York Stock Market, owing to the projected reorganisation of various banks. 1 , Thoso whose alfuirs were investigated were found to be solvent. ■„< : ■• .' ' ' • The Committeo of the Clearing House will assist.banks to moot calls upon deposits. This' firmness in Consols is very cheering, in face of,the crisis in New York. This dees not iriiDly that London is riot affected; on the contrary, it''indicates that investors are clearing . out' other securities and reinvesting in.; tho world's premier security, fori after all, it is tho most stable of the lot. At this : date last year,' Consols were at .£BS 10s. .A steady' advance in'this; security may now be expected. In this, connection much interest attaches to the remarks of Mr. Asquith, ■' reported in; ' another cablegram, ' !.s to the quitting '■ of . Kilt-edged securities in order to invest in others which, at a time Of' abnormal trade'activity,• are moro romunorativo...' ■''■'