MONEY MARKET.

Otago Daily Times, Issue 13940, 27 June 1907, Page 7

MONEY MARKET.

THE TRANSVAAL LOAN,

PRESS OPINIONS'.

Press Association—By Telegraph-Copyright. LONDON, Juno 25. -Mr Asquith (Chancellor of the Exchequer), in answer to a question in tho House of Commons, said there would bo no issue of Transvaal stock in the currentfinancial year, hut only an issue of shortdated securities for one million, to meet coming requirements, in anticipation of the later live million loan. June 26. (Received June 27, at- 1.6 a.m.) The limes states that "in the money market many ta.d regarded Mr Asquit-h's announcement as likely, partly because it is a matter of common knowledge that no such loan could have been issued except in terms which would bo regarded as discreditable to the British Government, which has now had its eyes opened to the mischievous consequences of tlio pledge so imprudently given to Mr Botha. Tho change of plan had raised prices materially towards tho former level. If nothing fresh comes to disturb the revival of confidence a- revival of business to a failextent seems reasonably probable." The Financial Times says: "The change of sentiment- on tho Stock Exchange yesterday was marked, ami as it, is understood iL' Asquith has completed for the present- the redemption of the floating debt and intends to begin applying his energy to the consols market, the opinion is expressed that tho funds have finally turnod the corner." The Telegraph states: "Mr Asquith's statement gave great relief. It is stated in some quarters that the futile character of Sir Henry Campbell-Uannerman's proposals concerning the House of Lords is also responsible for the past improvement."