AUSTRALIA'S DECISION
On the eve of the Commonwealth General Election a marked firming of bank shares (including Australia) has occurred. One Australian bank was quoted yesterday at buyers 17s 8d; on the same day last week the buying quotation was 15s lOd. Yet both the Labour parties that are contesting the Federal Election have "crediP proposals more or. less sweeping, and each has been accused, in differing degrees, of having plans that would be inimical to bank profits. A few days ago the Federal Prime Minister, Mr. Lyons, published [a confident forecast of election sue-
cess for noh-Labour forces, and apparently the Stock Exchange is inclined to endorse this view. At any rale, the bank-share barometer is significant. But neither the share market, nor the politicians, nor the newspapers are infallible forecasters of democratic elections. The confidence behind the forecast and the market movement is good as far as it goes. More will be known on Sunday, when the battle will be over.
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Evening Post, Volume CXVIII, Issue 65, 14 September 1934, Page 8
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163AUSTRALIA'S DECISION Evening Post, Volume CXVIII, Issue 65, 14 September 1934, Page 8
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