Britain’s Stagnant Slock. Market

Horowhenua Chronicle, 13 June 1932, Page 8

Britain’s Stagnant Slock. Market

AUSTRALIAN (SECURITIES PROVIDE BRIGHT SPOT.

Received Sunday, a. 5 p.m. LUXDUN, June II

The general conditions on the Stock Exchange remain unsettled and several

disturbing events have prevented an improvement. The revolution iu Chili, the failure of an important linn on the metal market, widespread liquidation, on Wall (Street, the political uncertainties iti Germany and tiie weakness of the sterling exchange all contributed to make operators cautious. Consequently there was a general air of stagnation, in the markets and the movepu-nts of prices have been mostly downward. A pleasant exception is the Australian Government stocks which maintain the firmness and in some cases-

have improved. Discussing Australia’s economic position, the Morning Post’s iinancmJ editor describes the change as a must remarkable and praiseworthy achiever meat. Many thought that having lived, on borrowed money for so many years Australia’s effort to turn its import: balance into an export surplus would be a task quite beyond its powers. Sometimes the bickerings of politicianswhich often accorded greater prominence in the cabled news than any evidences of solid progress mayhave obscured the fact that the' task was being tackled whole-heartedly by the Australian people once they wereshown the way.

Tho faith of those investors who have hold their Australian securities right through tho period of difficulties is now seen to be justified and in view of th& falling returns of high-class domestic securities there would seem to be rooniif the Xcw South Wales election goes in the direction generally anticipated for a further improvement in Australian stocks as providing one of the few channels where the investor can loolc for integrity on the part of the borrower. There are still difficulties to bosurmounted, but a great beginning has been made.