SINKING PRICES

Evening Post, Volume CXI, Issue 100, 30 April 1931, Page 14

SINKING PRICES

NEW YORK STOCKS

NEW LOW LEVELS

'" '(Received 30tli April, 12.30 p.m.) f NEW YORK, 29th April. Australian bonds and particularly those <bf the State of Queensland, have continued weak. At the close the following prices were reported:—s per cent. Australian Commonwealth (1955), dollars GO, off 1% points; and 4Vi per cent. (1937), dollars o2 1/i, off ?i poiut; 5 per cent. Brisbane City' (1057) dollars, 54, were up 2 points, and (1958) dollars 52%, were off 5% points. Queensland State 6 per cent, loans (W4,), dollars 50%, were off 14% points. I here were no sales of the 7 per cent. Joan (1942). ' The* entire stock list is unsettled, and the majority of the principal issues have experienced a considerable liquidation, following a drive against United States steel .common stock, which closed at 110/t d°Tnt Sday's sales totalled 3,200,000 shares. Millions of dollars wel'e cut from the market.-Valuations in steel common alone dropping'over 70 million dollars m quoted ' Today's decline is the climax to a lengthy period of gradually sinking prices, which to-night, in numerous instances, closed near to the low levels ot values, ot 1927. Sales of Australian securities on Wall Street, as notified on Monday last, compared -with those previously cabled as follows:^ . 20 th Apl. 27th Apl. Commonwealth— Dols. Dols. 5p c. Jan.-July, 1955 .... 65% 60% ■»■ p'.c. March-Sept. 1957 .. 07 (50% Wt i>.c May-Nov., 1950 .... 00 53 2few South Wales— 6 pi, April-Oct., 1957 ... ofi 48... 5 p.c,,:April-Oct., 105S ... 55 50 Queensland— fi p.c, Feb.-Aug., 1947- .: 7(i% * 7 px., April-Oct., 1942 ... '92 80 ' ' ' , . ' *No sale. Prices on loth April last were 5 percent.' Commonwealth 67 dollars and 66% dollars' respectively; New South Wales, 58 1-8 dollars and 59% dollars; Queensland, 7 per cents., 95% dollars.