CAPITAL ACTIVE.

Rangitikei Advocate and Manawatu Argus, Volume XLV, Issue 12016, 19 March 1920, Page 8

CAPITAL ACTIVE.

A SPECULATIVE BOOM. United Press Association —By Electric Telegraph—Copyright. Received March 19, noon London, March 15 There was an extraordinary boom in new issues during February when £25,000,000 of new capital was issued. To-day’s newspapers are advertising fourteen issues totalling £16,000,000. A feature of the prospectuses is the offer of participation in preference shares at interest ranging from 7 to 10 per cent. These are 'proving very attractive. Investors are largely selling less remunerative holdings, thus affecting the stock markets and especially depressing gilt-edged securities. Some financial authorities anticipate an early rise in the Bank rate, but it is doubtful if this will check the flow of issues, most of which are being fully subscribed.