MONEY & TRADE

Evening Post, Volume CVIII, Issue 78, 29 September 1924, Page 7

MONEY & TRADE

A LONDON REVIEW SLUMP IN GERMAN BONDS AN ACTIVE STOCK EXCHANGE. (UNWED PRESS ASSOCIATION.—COPIRIQBT.) (AUSTRALIAN-NEW ZEALAND CABLE ASSOCIATION.) (Eeceived 29th September, 9 a.m.) LONDON, 27th September. Business on the London Stock Exchange 33 commencing to expand, and the volume of dealings this week is' probably the largest for many weebi past. The gift-edged market remains good, and there has been a mild boom in tea and rubber shares, following advances ia the prices of these commodities. The outstanding feature of the foreign bond market has been the slump in German bonds, in which there has been considerable speculation lately.. ; The Reichstag Committee has decided upon a re-assessment of the value of these bonds, and payment of interest, was impossible. Publication of this decision brought prices down with a run iRPeL Cent" falli?S to 265, a decline of lbs od, and similar losses were marked m3i Per cent, and 4 per cent, bonds In describing the state of trade. "The Economist" says the . seasonal slacken-! mg over the summer months seems more accentuated this year than last .textile trades are only affected slight- | ly; but the iron and steel production has been more severely curtailed than at j any part of the current year. ; Employment has declined during tHe last two months in a greater degree than many anticipated. | Other indications show that the volume of business, outside the coal and' heavy metal industries, is appreciably larger than for September, 1923, and fairly well maintained consideringr the time of year.' The coal export trade isi suffering rather from failure of demand in many countries than any recrudescence of foreign competition. The Sam? applied to iron and steel. The outlook in Lancashire is.brighter. Ine good American crop is holding out prospects of plentiful supplies of cotton for the coming season. The wool industry, on the whole, is better employed, although manufacturers are unable to pass on to customers the whole of the recent increases in the price of raw material.