RISE IN STOCKS.

Manawatu Standard, Volume LIV, Issue 293, 8 November 1934, Page 7

RISE IN STOCKS.

DRAMATIC MOVEMENTS

LONDON, Nov. 7. The Daily Telegraph’s . financial editor says that the rise in British Government stocks gathered force on Tuesday. Big financial institutions’ demands were evident in greater volume, while foreign funds continued to flow to London for safe investment, with the result that price movements were dramatic. War Loan reached £lO6, and old Consols rose £1 to £B4 17s 6d.

AUSTRALIAN LOANS.

CONVERSIONS IN LONDON.

LONDON, Nov. 6

Mr Stanley Bruce, High Commissioner for Australia, announces the underwriting to-morrow of the conversion of the obligatory redemptions in 1934 as follows: —South Australian, £789,400, 3| per cent. (1935); Tasmanian, £137,750, 4J per cent. (191635); South Australian, £1,559,150, 4 per cent. (1915-35); Western Australian, £2,235,007. 3 per cent. (1915-35), and £463,110, 3* per cent. (1920-35). Also £2,496,711, 3J per cent., all to give per cent, at an issue price of £99 Similar terms are offered for_ optional conversions of loans of 1917-36. South Australian for £2,175,815, 4 per cent. (1934-45); Western Australian, £3,744,863, 5 per cent. (1920-40); Tasmanian, £1,000,000, 4 per cent. The prospectus will be issued on Thursday and subscriptions will open and close for cash on Friday. Conversion applications will close about November 16.