BRITISH STOCK EXCHANGE.

Poverty Bay Herald, Volume XLIX, Issue 16091, 3 April 1923, Page 6

BRITISH STOCK EXCHANGE.

A CONFIDENT TONE

Elec- Tel. Copyright— United Press Assn .Australian and N Z cable Association LONDON, March 31.

The Stock Exchange closed' in a most cheerful mood', for though as usual in Easter week, business was not over brisk, prices were remarkably well maintained, and the tone was confident. There lias been a rush for new issues of a diversified/ character during the past fortnight, which were mostly over-sub-scribed. These included £15,0CX),000 Treasury bonds, which were all snapped up in two hours; the Jamaican loan of £670,000, which was so heavily subscribed] that applicants could only 10ceive 16 per cent.; and numerous industrials, including £3,500,000 shares and debentures in a much-advertised whisky firm, also drapery, textile, and rubber directories, andi train and' ferries shares, for all of which there was a great rush of applicants, Gilt-edges continue to appreciate in value. Consols have risen 3J- per cent, since the beginning of the year, conversion loan 2g per cent., and" 5 per cont. loan If per cent., while colonials mostly show equally or more satisfactory advances, Other classes of shares also continue to improve. The Bankers’ Magazine’s list of 365 representative securities shows an aggregate appreciation during the last three months of £350,000,(XX), of which 294 are in fixed' 1 interest, and 56 in valuable dividend securities.