BUDGET RECEPTION
STOCK EXCHANGE RECOVERY [by CABLE —PRESS ASSN.—COPYRIGHT.] LONDON, April 27. In contrast to last year, the city has lost no time in accommodating itself to the Budget. After an initial setback, all markets have regained their firmness and closed the day with a number of impressive gains. P. and O. stock rose a shilling on the resumption of interim dividends. Gold shares continued in favour, and oils also were higher.' Tea shares were unchanged, as the tea duty was long foreseen, and had been discounted. Industrials mostly were firm, as it was recognsied that the concession of extra wear and tear machinery allowance offsets the increased income tax. The firmness of markets in face of the budget is regarded as a most healthy sign, and lends colour to the view, that recovery is at last under way.
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Greymouth Evening Star, 29 April 1938, Page 7
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139BUDGET RECEPTION Greymouth Evening Star, 29 April 1938, Page 7
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