TRADE AND FINANCE.

Manawatu Standard, Volume XLIII, Issue 398, 16 May 1922, Page 6

TRADE AND FINANCE.

The following appeared In our Second Edition of yesterday:—

NO WEAKNESS IN BUSINESS,

Received May 15, 8 a.m. LONDON, May 13

International politics had a somewhat disturbing effect upon the Stock Exchange early in the week, bid Mr Lloyd George's and M. liarthou's denial of the sensational report of a rupture of the Entente quickly dissipated the feeling of uneasiness, and there is now a distinct disposition to take a hopeful view. Business certainly has been on a reduced scale, but no weakness has been apparent anywhere, _ and giltedged securities closed quite firm, with Colonials tending upwards. Home securities, especially rails, received _ encouragement from the confident tone of the speech on Thursday by the Hon. S. Baldwin, president of' the Board of Trade, but industrials do not yet show any increase in activity. Wireless shares are the notable exception, with a strong demand and rising prices, this being doubtless owing to the recent wireless telephone development. The money market is still plentifully supplied, and rumours are again current that the Government is likely to take advantage of the present position to issue a large funding loan in the comparatively near future. Apart from £260,000,000 now under the process of conversion, and a large sum outstanding in Treasury Bills, the Government has to deal with about .0600.000,000 of debt maturing within the next live years, and there'is also £2,000,000,000 of live per cent, war loa-i. It is suggested thai the Government's funding proposal will offer the holders of the war loan an opportunity of exchanging into some longer dated loan'.—A. and N.Z. cable.