GENERAL ACTIVITY

Poverty Bay Herald, Volume LIV, Issue 16628, 23 April 1928, Page 7

GENERAL ACTIVITY

LONDON STOCK EXCHANGE NEW ZEALAND LOAN LIKELY lAnstralian and N.Z. Press Association.) LONDON, April 21. The American, demand for a 4 per' cent, funding loan has again been the principal feature of the Stock Exchange. This follows the listing of the funding Joan in New York," which is regarded as a most important step in the iiiternationalisa.tion'of securities, and likely to lead to developments which will tend towards closer relations between the New York and London exchanges. The immediate result of this listing has been considerable inquiry for all gilt-edged stocks, notably the funding loan, which rose smartly, but relapsed later on.

British investors' stock is being readily absorbed in New York on account of the market strength of gilt-edged stocks. This has given rise to many reports of forthcoming capital flotations of an investment character in tho near' future and certainly the time seems favorable. The" fii-sit "to arrive is the West Australian loan, which has been well received. Another possible early borrower is New Zealand, which has nearly £30,000,000 falling due . for repayment in November, 1929. It seems rather early to talk about this conversion, but some financial writers anticipate the repayment will be dealt with piecemeal, and that • an early commencement will be made. In any case New Zealand's annual issue of a new money loan is expected next month.