THE MONEY MARKET.

Manawatu Standard, Volume LIV, Issue 296, 12 November 1934, Page 7

THE MONEY MARKET.

BUOYANCY AT HOME

LONDON, Nov. 10. The London Stock Exchange had another record week as far as British Government stocks are concerned, several of them having reached new high levels. This is largely attributable to the cheapness of money following the decision of the banks to reduce their charge for weekly loans to one-half per cent. There was another contributory factor yesterday when Treasury bills were allotted at a little over 5s per cent., which is only 5d above the lowest ever recorded. The quick closing of the Australian loan cash lists also had a good effect, and the markets closed yesterday in buoyant mood. Home Corporation stocks and Dodinion and Indian loans all participated in the advance. Foreign bonds also advanced, notably German, which rose 10 points on the announcement of the exchange agreement, and have maintained the improvement. Industrial issues have followed the lead of gilt-edged securities, and there has been an active demand for highclass fixed interest issues, also those of well-estahlisherl companies engaged in leading domestic industries. The only unsatisfactory market is mining shares, which continues uncertain and irregular.