BRITISH TRADE

Manawatu Standard, Volume IV, Issue 225, 24 August 1931, Page 7

BRITISH TRADE

UNCERTAINTY ON STOCK EXCHANGE. BUSINESS HAMPERED. EFFECT OF ECONOMY PLANS. (United Press Association- —By Electric Telegraph.—Copyright.) Received August 24, 8.5 a.m. LONDON, Aug. 22. Business on the Stock Exchange has been hampered by the uncertainty regarding the Government’s economy plans. The volume of business passing has been small. The different markets have been affected by various rumours, current from time to time, regarding the Government’s intentions. Thus giltedged securities were disturbed by reports that a tax would be imposed on fixed interest bearing stocks, but they showed some improvement yesterday afternoon, when a rumour spread that tho Government might resign. Similarly industrials, like brewery and tobacco shares, were dull on the apprehension of the impositions of further duties, while others were inclined to improve on the talk of a revenue tariff of ten per cent. SATURDAY OPENING OF ’CHANGE.

Tho decision to open the Stock Exchange on Saturdays has aroused considerable interest and is freely discussed. The News-Chronicle comment is:— “The committee, in arriving at this decision at a time when there is not enough business to occupy tho depleted staffs of the stockbrokers’ offices more than a fraction of the ordinary working day, is making a gesture that is generally approved of, and indicates that tho Stock Exchange at this critical stage of the country’s finances is prepared to do everything possible to facilitate business. There is not likely to be a material increase in the weekly turnover as a result of the decision, but it will facilitate international transactions, as the foreign Bourses are generally open on Saturday.” The decision to extend the increase of the fiduciary note issue by £15,(XX),000 for a further three weeks meets with general approval, for though tlie position revealed by the bank return would be quite good in ordinary times, it must bo remembered that world conditions are still very unsettled.