GERMAN BONDS

Dominion, Volume 18, Issue 98, 21 January 1924, Page 7

GERMAN BONDS

BOOM ON LONDON STOCK EXCHANGE REDEMPTION RUMOURS By Telegraph—Press Association. Copyright. London, January 18. Speculators in German bonds on the London Stock Exchange made thousands of pounds to-day. German 3,3 J, and 4 per cents, leaped higher every hour, until thoso who bought early doubled their money. German “fours.” worth 9s. on Monday ♦and 10s. 9d. on Wednesday, were 21s. tonight. It is stated on the Stock Exchange that the German Government contemplates the redemption of its pre-war debt. Dutch agents are smuggling bonds across the German border by night. There are certainly heavy buy ing orders from Amsterdam. The news of rapid profits spread quickly, and jobbers were busy long after their usual hours. —Aus.-N.Z. Cable Asn. t STOCKS RUINED BY FALL OF MARK HOLDERS NOT TO BE COMPENSATED. (Rec. January 20, 5.5 p.m.) London, January 19The “Daily Mail’s” Berlin correspondent says the Government started the country by the announcement that it would not compensate holders of war loan and other Government municipal stocks which had been ruined bv the depreciation of the mark. It points out that . holders must accept bankruptcy owing to the loss of war obligations under the peace treaty. There has been a recent boom in these stocks, based on the belief that the Government might place its own liabilities and liabilities on a gold ba.sis. Hundreds of thousands of thrifty frugal members of the middleclass who invested in what they believed safe securities are now staring ruin in the face. A crop of suicides is expected.—Sydney “Sun” Cable.