CONDITIONS IMPROVING

Evening Post, Volume CXI, Issue 75, 29 March 1926, Page 9

CONDITIONS IMPROVING

MANY NEW CAPITAL ISSUES

NEW SOUTH WALES SCRIP-AT A

DISCOUNT,

(United Press Association—Copyright.) (Australian-New Zealand Cable Assn.) LONDON, 27th March.

Business in most departments of the Stock Exchange has been extremely dull, with prices tending downwards, but gilt-edged securities, after somo uncertainty early in the week owing to the money stringency have becomo distinctly firm. As money conditions havo improved and should improve further next month, easier conditions are then expected. The flood of new capital issues continues, this week's issues amounting to £9,177,000. They met with a varying degree of success. Some, like the New South Wales loan, were left largely in the underwriters' hands, but others ■were rapidly over-subscribed, especially those giving a high rate of interest. A notable success was the San Paulo waterworks issue of two and a half millions 7 per cents, at 96. The public rushed this issue, which is now quoted at 4-1 premium.' New South Wales scrip is now at about 13-10ths discount, but the underwriters are not perturbed, as they expect the discount will soon be wiped off.