MONEY MARKET

Hokitika Guardian, 3 December 1929, Page 6

MONEY MARKET

LONDON CONDITIONS

[United Press Association.—By Electric Telegraph.—Copyright.]

LONDON, Dec. 30

_The Stock Exchange has been passing through another period of idle ness and depression, and all section® have failed to anaintain the improvement which followed the lowering or the bank rate last week. Gilt-edgeds were adversely affected by the ill-ad-vised incursion of Mr Tom Shaw, Secretary for War, into the realms of finance ,and though the Chancellor of the ;Ex'chec|uer (Mr'Philip Snowden) re- ' p'udiuted --liis colleague’s threats.against: Loan holders, there is still ,a feeling of uneasiness about the giltedged markets.

Industrials have been very dull, the collapse of H. S-. Horne, though it did not come exactly as a surprise, having the effect of further depressing the already weak market.

The Wall Street slump on the London Stock Exchange is shown by the latest valuation of public securities made by the “Bankers’ Magazine.” bue aggregate values of 205 representative securities show a deeilne in the month ending November 18th. of 4.3 per cent., and 278 variable interest securities, showing a fall of 8.6, hut it is interesting to note that high-class investment stocks weathered the storm excellently. There is certainly a nominal drop in British funds hut this is explained by the fact that the halfyearly dividend on the War Loan has, been deducted from the twice.