TRADE AND FINANCE

Evening Post, Volume CXVIII, Issue 55, 3 September 1934, Page 12

TRADE AND FINANCE

PRODUCE & MARKET REPORTS FROM DAY TO DAY

STERLING WEAKENS ■

SECURITIES FIRM

EFFECT OF RISE IN GOLD

(By Telegraph.—Pres. I Assn.—Copyright.) (Received September 3, 9 a.m.) : ■COS DON, September 1. The weakness in sterling had practically no effect upon the London Stock Exchange, and in most departments prices were maintained, with a good volume of business. Gilt-edged securities have shown considerable strength. Other sound investment stocks remain firm. German bonds arc naturally, weakened as a result of Dr.. Schacht's proposal to extend the debts moratorium. j There was considerable activity in gold-; mining shares. ■ The rapid advance in the price of gold j has not had the effect that, might have been expected; on the contrary,' nothing happened yesterday when the record price was announced. Most dealers are adopting a wait-and-see policy. •The past month has been an unusual one in the new capital market. As the "Daily Telegraph" points out, the month of August in the ordinary course is the leanest month of the year for new issues, but on this occasion it has been—for a holiday period—quite noteworthy for its activity, which augurs well, for the coming season.

DAIRY PRODUCE

WEEKEND MARKETS

A. 11. Turnbull and Co., Ltd.. have received the following cable from their principals, W. Weddcl and Co., Ltd., dated London August 31;— Butter: Market is steadier. , Danish, 10os per cwt; New Zealand, finest 74s to 795; Kangaroo, iiiiost 725. to 755. The cheese market is qivitt. Now Zealand, white 48s to'4os Od, coloured 45s to '465.

The New. Zealand Producers' Co-opera-tive Marketing Association's weekly cabled market report from London, dated August 31, is as follows:—Butter market steady. New. Zealand, finest grade 76s to 78s per cwt, first grade -74s to 70s; Danish, 105s. "Cheese market quiet. New Zealand, white 48s 6d to 49s per cwt, coloured 4os to 465. ■