AUSTRALIA'S CREDIT.
MISGIVINGS IN LONDON.
WILD RUMOURS CURRENT.
STOCK QUOTATIONS LOW
By Telegraph—Press Association—Copyright. (Received February 5. 5.5 p.m.} . LONDON, Feb. 4. In spite of reassuring statements from the High Commissioner, Sir Granvilio Ryrie, and the spirited defence of the Commonwealth's financial position by the Minister 'of Trade and Customs, Mr. J. E. Fenton, there remains a lack of confidence in City circles, which has resulted in the existence of a big "bear" market. Australian stocks have not reacted to reflect the genuine position. It has even been rumoured that a moratorium is about to be declared, or that both the Commonwealth and the States contemplate the postponement of payment of interest. Uneasiness is spreading among small holders, who, to an increasing extent, are inclined to regard Australian investments with apprehension. Some City brokers do not discourage this feeling, thus keeping stocks at their present low level. It is urged that the Priino Minister, Mr. J. H. Scullin, and the Treasurer, Mr. E. G. Theodore, should explicitly state that there is no intention of postponing any pa'yments of interest.
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Bibliographic details
New Zealand Herald, Volume LXVII, Issue 20482, 6 February 1930, Page 11
Word Count
179AUSTRALIA'S CREDIT. New Zealand Herald, Volume LXVII, Issue 20482, 6 February 1930, Page 11
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