BUSINESS AND BOMBS

Evening Post, Volume CXXX, Issue 145, 16 December 1940, Page 12

BUSINESS AND BOMBS

STOCK EXCHANGE CARRIES ON

Private advices received in Wellington of the effect of air raids show that business on the London Stock Exchange is being carried on and market prices quoted as usual. When the September "blitz" was at its intensest market dwindled to a very small volume. There were delays in postal, telfegraph, and telephone services which hampered the transaction of business, but prices in markets generally, and especially in Government and other high-class securities, were well maintained. There was no pressure to sell. At the end of September business was interrupted by the warning sirens, which were followed by members quitting the Stock Exchange to go to their offices where shelters are commonly provided. As telephone communication is then cut off. trading is temporarily brought to a standstill; but arrangements are made for the telephone service to enable business to be transacted between offices. The Exchange closes at 2 p.m. in order to ease travelling difficulties. British Government Stocks gained ground all through the "blitz" month of September with remarkable advances and Dominions' Government Stocks also improved. In foreign Government Stocks but little was doing, but price changes were uniniportant. There were moderate gains in industrials and shipping shares were steady. Subsequent to the date of this advice London stock and share indices showed that on October 2 Government securities were 110.4; industrials 81.7; on October 15, the position was: Securities 1101.9; industrials 82.4; November 1, 110.0; 82.7; November 14, 111.2; 87.6; December 2, 112.2; 86.6; December 13, 111.9; 86.0.