CHEERFUL TONE

Poverty Bay Herald, Volume LX, Issue 18208, 2 October 1933, Page 5

CHEERFUL TONE

HOME STOCK EXCHANGE ALL-ROUND FIRMNESS CONVERSION OPERATIONS (Elec. Tel. Copyright—United Press Assn.) (Received October 2, 11 a.m.) LONDON, Sept. 30. The Stock Exchange maintains a cheerful tono in all departments, thanks to a number of favorable influences, notably the good reception of the new conversion loan and the brilliant success of tho Commonwealth issue, which is reflected in the firmness of gilt-edgods, while industrials benefited by the signing of the Anglo-Argentine trade agreement and the rise in the prices of numerous commodities, notably rubber, which advanced 'sharply on the appointment of a restriction committee to . collaborate with the Dutch. It is now believed that there in a good chance of a restriction scheme being enforced next spring. This caused 1 a boom in rubber shares, several of which advanced about 20 per cent, in the week. Cabled nows from Canberra that an•other Commonwealth conversion loan is pending is not surprising-in view of this week’s successful , opoiation, but some doubt exists whether it can he done just yet.. It is.understood that South Africa has a prior claim to - convert about £IS,C/CD,003. Also, as the Morning. Post points out, having regard to the fact that there is a large call of 93 per cent, on the last loan, due oil October 30, there is something to he said for a pause before the next conversion operation is attempted, especially, as far as can be seen at present, there is no reason to anticipate any setback in trustee securities.