MARKETS OF THE WORLD.

Sun (Christchurch), Volume I, Issue 151, 1 August 1914, Page 9

MARKETS OF THE WORLD.

LONDON STOCK EXCHANGE. AN UNEXAMPLED SITUATION. LONDON, July 31. , The situation on the London Stock Exchange is unexampled. Many dealers suggest closing, which has never been done in the Exchange's history. The banks point out that such action would increase public anxiety. It is also suggested to suspend .publication of the official list or. the markings of prices. The mid-August settlement is viewed with anxiety. Failures involve twenty-two members of the Exchange. DEPRESSION IN SYDNEY. WHEAT MAKKET EXCITED. SYDNEY, July 31. Stock and investment markets continue to be depressed and touched by panic. Little business is done owing to further declines. The. rise in the London bank rate is an added factor in the dulness. The wheat market is excited, 4/.'! j being freely offered for old season's grain, but there are no sellers. Sales of new season's grain for DecemberJanuary and February delivery are reported at 3/104.

The Millers' Association has advanced the price of flour T>y ten shillings a ton. Wheat buyers have paid

1/3 for stocks, and sellers are jiiow ask-* nig 4/6. PANIC AT'MELBOURNE. SLUMP RATES RULING. . MELBOURNE, July 31. The Stock 'Exchange', was' paniestricken for a ,time" owing to a' rumour that England had sent an ultimatum 1 to Germany demanding to be informed-of hei intentions within twenty-four homv_ under penalty qf a blockade. of Business was almost at a slump rates were ruling for mining aiid ' investment stock* • Buyers of wheat are offering as* higV' as 4/6 without "business. A movement, is afoot for, a meeting" cf bankers to arrange for possible con-"; lingeneies arising out-of the war. \[ The Governor pf the Commonwealth'' BaiLk states that the bank is making : * e\cry preparation to meet any eontin* gency that may arise. GERMAN PRODUCE UP. TRADESMEN IN «'J.j BERLIN, July'ai.ljJ; Wheat has risen fifteen shillings andV* oats twenty shillings. . .; There have l -been many failures andl? suicides anitrag tradesmen, feeling the'pinch severely. -■>.■■• 1 * .;