STOCK EXCHANGE

Greymouth Evening Star, 7 September 1939, Page 10

STOCK EXCHANGE

>. RE-OPENING IN BRITAIN:' J • [bbitish official wibeless.] i| .-h •• ’'■■ RUGBY, September 5. I •' T 1 *® Stock Exchange will reopen on Fnursduy. Meanwhile transactions b,etv{pen members .are permitted ac-ccrdi.n'g.-to the special rules announced 'yesterday-by ,the- committee. 1 The closing of the Exchange., it is emphasised in financial cricles, was not due to any weakness of thg mar‘kct, .but Avtis decided on for the convenience of nieinb.erp;, ... , . ... ; To-day’s , “Financial: Newg'’: , pays a 1 wainj.: tiiib.iitV .to the, t'ftorougliness of the. preparations .which . enabled Britain’s;; .economic system .to . pass ; smoothly from near wpi;,.conditions to hthosp.pf war. ;’the article continues: — ; / iF none of th.e hasty improivisatioiis of 1914.. ~ .. .One getS jthe; im.pression of, .a. well-oiled; machine, at ■work,;.., Tlip financial ;uieq,suj! , es..are drastic, comprehensive, iand jSensible.. , ; ■ “.The. mensures. Jiiclude ; ... complete ;control of: the foreign exchange.market ;an(t,th'e domestic financial position, as ■well as steps to preyent, .emergency ■difficulties, in ; thp money, market;.. The jw.ho.le plan .of the campaign , oil the au■tho.rities .appears ,to be a .mixture between, control; and the .maintenance as far as possible of existing .institutions. j.> ‘‘The control consists , .for. the riiost part, of the control, of prices, and , the control, of distribution of. supplies (through, priority, schedules—such; con•ti’ol being, exercised, through the Indus-1 (tries’ own..organisation?., | There is eyid'ence ; in .the ; City, according to this newspaper, of considerable confidence in the capacity of Britain’s economy to undergo efficiently and rapidly’ the change-over from peace to war.

BOOM ON WALL STREET. NEW YORK, September 5. ■ The American public has climbed Aboard the stock market “express,” And prices have soared 5 to 25 points. •Turnover was 5,930,000 shares. Bonds, particularly United . States Government issues, have risen more Ilian a point and the demand- for stocks centres in steels, sugars, chemicals, shipping, textiles, aeroplanes, motors, and lead. . ' . Commodities have risen to the highest levels permitted, in a single’ r day’s movement, and trading has practically ceased, due to lack of offerings.