SLUMP IN STOCKS.

Timaru Herald, Volume XIC, Issue 13448, 21 November 1907, Page 5

SLUMP IN STOCKS.

IMPROVEMENT ON THE STOCK EX

ORANGE. Pietfc An&oci.ttion-By Telegraph-Copyright LONDON. November 20.^ Theie its a great improvement on the Stock Exchange Owing to the action of the United Stale-. Government, theie is a buoyan 1 " tone. Consults aie quoted at 82|. A HOPEFUL TONE. Recjived 10.30 p.m.. No\ ember 2Cth. Nl-iW YORK. November 20. The tone of New York is hopeful, lather than confident, legaidmg the effects, of Pu.sidi.iit Rouseveltfi "appeal. The tiniest in the financial vorld is not seiiously regarded in Australia. A financial writer, in reply to a question as to -what'-riould be the position of the Australian banks, with fifteen millions sterling investments. 11 London on sboitdated securities, should a serious collapse take place there, said that the answer vat, easy. Fiist of all. there were no signs of" a collapse in London: and secondly, if theie wae, the Australian funds at that eenlie would not bs in jeopardy. What had unsettled things in London was merely the desire of the leading banking institutions of the great metropolis to conseive their gold reserves After thoroughly dealing the point, the financial editor of the ' Svdnev Morning Herald' states that the v.ilue"of the piodw-ls might depreciate, but it -«as not possible to contemplate anything more seiious than thai. "