STOCK EXCHANGE

Evening Post, Volume CXIII, Issue 49, 28 February 1927, Page 9

STOCK EXCHANGE

' BUSINESS IRREGULAR

SECURITIES AFFECTED

(United Press Association.—Copyright.)] > . LONDON, 26th February. Business on the Stock' Exchange has been somewhat irregular. . ■_•'.'• Gilt-edged securities have' been, adversely affected by the •temporary monetary stringency, the " Chinese trouble, and a surfeit of new issues, while the boom in oil shares-collapsed as quickly as it arose. Mining shares have been very active-at advancing prices, and industrial shares generally; are strong. A feature of the last two or three weeks has been the issue of a number of provincial corporation loans at home. These Went well, but apparently the demand for them is over, for the underwriters have been compelled to take a large portion of ■ the two last issues. Several of these corporation loans have been floated at 5 per cent at £.100 10s,; and the price is regarded as too high. Nothing has yet been done regarding the Commonwealth's large conversion operation or regarding one or two Australian State flotations, and in, the present position of the money market they will probably bo deferred for ' some time. Repayment of the Commonwealth's maturing loan of £12,----750,000 is not due till Ist' June, and it seems as if itf will wait till financial conditions here improve, as they are expected to do in April if not earlier. ' : '■■".? ""■