SOUTH AFRICAN LOAN
A STRIKING SUCCESS
DEALINGS AT A PREMIUM
(By Telegraph—Press Association—Copyright.)
(Received May 27, 10.30 a.m.)
LONDON, May 26. The South African Government Loan was a striking success.. Although £5,000,000 was invited, applications totalled over £63,000,000. All applicants for amounts of under £600 were eliminated, and the rest received an allotment of only 8 per cent, of their requirements. Dealings in the loan carried a price with a premium of 29s 3d. • The loan closed within 15 minutes of the opening of subscriptions. GOOD EFFECT ON MARKET. Gilt-edged investments generally benefited from this remarkable change in sentiment. The strength in the gilt-edged section of the market has encouraged a recovery in most of the other sections. Foreign bonds have also responded on the improvement in the political situation. Shares in the heavy industries, shipping, and mines are all firm. Commodity markets have not shared in this ebullience of the stock and share markets, as they remain oversbhadowed by various uncertainties.
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Bibliographic details
Evening Post, Volume CXXVII, Issue 123, 27 May 1939, Page 9
Word Count
162SOUTH AFRICAN LOAN Evening Post, Volume CXXVII, Issue 123, 27 May 1939, Page 9
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