BRITISH FINANCE.

Gisborne Times, Volume LXVII, Issue 10510, 14 February 1928, Page 2

BRITISH FINANCE.

lilt-edged stocks weak

RUBBER STOCKS UNO MR. CLOUD.

AUSTRALIA’S AMERICAN LOAN INTERESTS FIN ANGLERS.

(N.Z. and Aust. Press Assn, and Sun.) LONDON, Feb. 11. Tlie gilt-edged section cf the Stock Exchange has been somewhat overshadowed lately by the upward tendency o', money rates, .the knowledge that there is no lowering oi the bank rate, and Mr. Churchill’s announcement that a reduction of the income tax was out of the (question, consequently leans have shown some weakness, which is reflected more or less in other investment stocks. Dominion issues, however, remain steady, inaiiv showing .a slight appreciation. Rubber stocks have been under a cloud since the announcement of the Government inquiry into the restrictions. but there has been a small boom in other industrials, notably gramophones, artificial silk, electric supplv, -and newspaper shares. The news cabled from New \ork that Australia, was floating a 10 to 15 mililons sterling loiui there cretited some interest in financial circles, although definite information regarding tlio issue is not obtainable. Newspaper cablegrams from Sydney state it is believed in financial circles there that London would prefer the issue being raised in New "York. From what, can he learned in best informed quarters there is not the slightest ground for this belief. In this connection it mav be pointed out that since July seven Australian loans, totalling over thirty millions, have been floated here.'' With the solitary exception of the City of Sydney issue all these are now quoted at substantial premiums.