FINANCIAL BAROMETER

Southland Times, Issue 19769, 17 February 1923, Page 5

FINANCIAL BAROMETER

ACTIVITY OF BOURSE. (By Telegraph—Press Assn. —Copyright.) 5 (Australian and N.Z. Cable Association.) LONDON, February 15. The Daily Telegraph’s Paris correspondent says ihe financial market has been buoyant for several days. To-day it was effervescent. Purchasers were so eager that it was difficult to find all the securities wanted and prices went up by leaps and bounds. Sterling is quted at 77.83. The stiffening of foreign currencies gave a new fillip to securities, but when the general financial and political situation is considered the Bourse’s remarkable activity does not in dicate a sound situation, but fever. Turk ish and even Russian funds advanced with everything else. THE GERMAN EXCHANGE. BERLIN, February 16. (Received February 16, 8.5 p.m.) It is understood that the Government is aiming at an exchange parity of fifteen thousand marks to the dollar. The Reichs bank will persist in the policy of placing foreign currencies on the market utilising money set aside for reparations. Meanwhile the stock exchange is frantic owin.s to upsetting market calculations. Some industrialists crashed forty per cent. or. Thursday. Moreover the prices of food and other goods are not falling with the exchance so prices are ranging at a very high level. Another difficulty in the sudden deflation is that business men who borrowed marks against sterling deposits are beinj asked to make up the deficiency, which is most difficult.