BUOYANT FINANCE
BRITISH STABILITY CLEARING BANKS RECORD. ' i 1 N.Z. LOAN SCRIP PREMIUM. i ■ [United Press Association—By Electric Telegraph. — Copyright .3 (Received 9 a.rm) LONDON, July 20. A striking indication- of the progress of Britain’s economic recovery Is afforded by the monthly return of 10 clearing banks, the total deposits of which at the end of June reached a record, exceeding £2,000,000,000 for the first time. The previous highest figure was £1,983,000,000 in December, 1932.
Another good sign is the extraordinary success which has attended new capital flotations recently.. Issue after issue has been rapidly over-subscribed. The approach of the holiday season has had a I disquieting effect on the London Stock Exchange, but prices generally are steady. s The issue of a London electric loan of £32,000,000 somewhat diverted investment money from gilt-edged stock, and their prices declined slightly, but the rapid success of this loan had a stimulating effect and British funds quickly recovered. Dominion and Home Corporation stocks followed their lead. •
The recently issued New Zealand loan scrip reached a premium of 8/9.
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Northern Advocate, 22 July 1935, Page 5
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176BUOYANT FINANCE Northern Advocate, 22 July 1935, Page 5
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