WAR NEWS & SECURITIES

Manawatu Times, Volume XL, Issue 14020, 24 October 1918, Page 5

WAR NEWS & SECURITIES

LONDON, Oct. 21. Consols closed at £6O. [The month of October, 1918, has been rendered conspicuous by tho revival that has taken place in the price of Consols. This may be attributed to the signs which have been manifested during the month of the relinquishment of German world-power ambitions, combined with the success of the Allied arms, particularly on the Western Front and also in other theatres. The price of Consols reached £62 5s on 9th October, a rise of £3 12s 6d in a week. But for the months of July and August the price ranged from £56 to £57 on 29th August. Prom then onwards the price of Consols steadily advanced until it reached £62 5s on 9th October, since when the price has receded until the even £6O was reached, as quoted to-day* On 25th October, 1917, Consols stood at £56. The buying is understood to have started by banks in neutral countries, and to have reflected the opinion there as to the issue of the war. On 17th October there was considerable excitement in Wall Street consequent on the war news, when losses were said to have been effected on war stocks and armaments, although shipping shares showed a slight advance. The interpretation of these movements is that financial opinion recognises the near approach of the end of the war.]