SYDNEY STOCK EXCHANGE.

New Zealand Herald, Volume LXVIII, Issue 20820, 12 March 1931, Page 7

SYDNEY STOCK EXCHANGE.

SHARE PRICES ADVANCING. RISE IN WOOL A FACTOR. (Received March 11, 9.15 p.m.) SYDNEY, March 11. Share prices are still strongly advancing on tho Sydney Stock Exchange and the volume of genuine business continues to expand. The appreciation in Federal loan issues is steady. Banking securities too have firmed, although sellers aro most difficult to locate. The turnover to-day was the best for months. Pastoral stocks soared owing to tho announcement that wool had risen 15 to 20 per cent, in London. NEW ZEALAND EXCHANGE. LONDON PAPER'S COMMENT. (Received March 11, 10.15 p.m.) LONDON, March 11. The Financial News notes an improvement in the New Zealand exchange position and says Although a reduction is, not likely there is no 'reason to suppose raising of the present rates will be necessary. The trade balance is rapidly regaining equilibrium. The paper cornmends the measures taken to meet the crisis. AMERICAN LOANS ABROAD. EARLY RESUMPTION EXPECTED. NEW YORK. March 10. A virtual invitation to Australia, Germany and other countries to enter tho American market for foreign loans is seen in a banker's statement to-day, in which ho predicted the resumption of foreign financial relations by Wall Street within 60 days. Economists believe that American longterm lending abroad is the first constructive step for the world's economic recovery. CUT PRICES IN BUILDING. POSITION IN WELLINGTON. As an example of the eagerness of building firms to obtain business in Wellington tho following tenders lor a city job, to cost £6OOO at a moderate estimate, were recently received by the architects concerned: —£49o4, £4095, £5042, £5146, £5168, £5257 and up to as high as £6BOO. The work above referred to would have cost quite £7500 to £800*) a couple of years ago. As it is, at £SOOO it would give a return to the builder not favourably placed in regard to materials and conditions of about 2 per cent.