IN CHEERFUL MOOD.

Hawera Star, Volume XLVII, 8 October 1928, Page 5

IN CHEERFUL MOOD.

LONDON STOCK ENCHANT; IC. ACTIVITY IN INDUSTRIALS. United Press Association—By Electric Telegraph Copyright.' (Australian Press Association.) LONDON, Oct. 6. The Stock Exchange continues in cheerful. mood, and activity in the industrial market shows signs of shifting to new groups, iron and steel, for instance, showing signs o.f revival, while artificia.l silk shares have gone out of favour owing to indications of over-produdtion. Speculation is at present rampant and is expected to continue unless there is some violent change in the monetary position. Signs are not wanting that some profits realised in industrials are being consolidated and re-invested in giltedged stocks, which are very linn, despite monetary' uncertainties, the i-ast week having been marked by far fhe heaviest net loss qf gold since the return of the gold standard. The bulk went to Germany. The “Statist” points out there has been an efflux of £8,000,000 worth of gold during the past three weeks, it says that if certain special factors were not operating it would be time to consider the advisability of bringing the bank rate machinery into play. The new issue season for the winter approaches. There is ample evidence of great activity and new offers of capital are contemplated. This follows phenomenal activity practically throughout the year, or the first nine months of the year new issues totalled £269.254,000 compared with £201,857,000 for the same period last year. This yeay s figures are the highest since the boom year of 1920 when nine months' issues totalled £314.574,000, and the full year’s. £419.438.000. It is significant that of £18.306,000 issued in September only £7,500,000 was for domestic purposes, and nearly £7,000,000 for countries outside the Empire.