HOPEFUL FUTURE

Manawatu Standard, Volume LV, Issue 259, 30 September 1935, Page 7

HOPEFUL FUTURE

FOR BRITISH COMMERCE. UPWARD TREND PREDICTED. CONFIDENCE RETURNS. (United Press Association —By Electric Telegraph.—Copyright.) Received September 30, 8.5 a.m. LONDON, Sept. 28. The third week of September was an anxious one for the Stock Exchange. All the markets were sensitive and reacted quickly to the various newspaper rumours. The gilt-edged security market was especially nervous and prices fell to the lowest level this year. Industrial issues also generally declined. This week confidence returned, the markets taking Jess notice of the unfavourable aspects of the international situation. Prices generally recovered sharply, although there was a slight decline yesterday, chiefly due to slackness of business. Old consols which fell last week to £Bl rose to nearly £B3. The conversion 3J pqr cent, issue recovered two points, and the funding v loan 2i. Industrial issues also improved, though rubber shares dropped slightly yesterday when Dunlop Rubber announced that they were not paying an interim dividend, the directors stating that the volume of business had been duly maintained but the rise in raw materials, coupled with the lag in the adjustment of selling prices and the unsettled conditions abroad had to some extent adversely affected the profits. According to the Economist’s trade supplement, business in Britain has begn marking time in recent weeks. The improvement in the first half of the year has so far been well maintained. There are no signs of a setback in the near future, in fact a strong seasonal upward movement is expected in the activity of most industries during the next few months, provided that there are no untoward international developments.