AMERICAN MONEY
BRITISH STOCKS lEIKG PURCHASED Press Association—By Telegraph—Copyright LONDON, April 12. (Received April 13, at 11.40 a.m) The Stock Exchange is at present interested in the American buying of long-dated securities, which, so American hankers emphasise, will have a, decided influence on the further flotation of Australian loans in the United States. Such flotations, they aver, will be welcomed in view of their high interest yield compared with similar American securities.
The firmness of gill-edged lines is largely due to American purchases, as owing to the low' yield of similar United Slates’ stocks Americans have recently been buying British issues heavily, especially the 4 per cent, funding loan, as foreign holders do not have to pay British income tax on it.
It was also reported that the funding loan was about to lie granted official quotation on the New York Stock. Exchange. As a result of this the buying price rose from 9Uj lo 93, but the report that quotation would be granted lias not been confirmed, and the price has relapsed to 91.—Australian Press Associaton. 1
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Bibliographic details
Evening Star, Issue 19840, 13 April 1928, Page 6
Word Count
178AMERICAN MONEY Evening Star, Issue 19840, 13 April 1928, Page 6
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