NEW CAPITAL BIG INCREASE AT HOME.

Manawatu Standard, Volume LIV, Issue 289, 3 November 1934, Page 7

NEW CAPITAL

BIG INCREASE AT HOME.

BEST OCTOBER IN FOUR YEARS,

GOVERNMENT STOCK ADVANCES

(United Press Association—By Electric Telegraph.—Copyright.) (British Official Wireless.) Received November 3, 8.5 a.m. RUGBY, Nov. 2.

The remarkable advance in the quotations of British Government stocks has continued to be the most impressive feature of Stock Exchange business during the week, War Loan gaining 8s 9d. War Loan gains are the more remarkable in view of the fact that stock quoted ex-dividend last Friday at £lO4 5s closed yesterday at £lO5 3s 9d. . This excess money, of which the high price of gilt-edged securities is a symptom has led to a revival in activities in the now capital market, which is revealed in the monthly statistics of new capital issues compiled by the Midland Bank. The statistics exclude conversion issues, short-dated . bills, and. other forms of issues 'which do not indicate a real increase in capital resources, lhe amount of new capital issued in October was £23,446,000 and was the largest monthly total for four years. The aggregate total for the current year amounts to £124,092,000, as compared with £113,729,000 for the corresponding period of 1933. Most of t-ie recent new issues have been very heavily over-subscribed. In the case of the £500,000 Brentford Corporation 3 per cent, loan offered at 9Sj, the subscriptions exceeded £10,500,000.