AUSTRALIAN STOCKS SHOW DECLINE.
ADVANCE IN EXCHANGE RATES CAUSES DROP.
(United Press Assn.—By Electric Telegraph.—Copyright.) (Received January 6, 12.45 p.m.) LONDON, January 5. The advance of the exchange rate has had a further depressing effect on Australian stocks, and several were marked down seriously. Quotations are: Victorian per cents, to £SB; 5 per cents, £76 12s; New South Wales 4 per cents, £B2 10s; 3 per cents, £69; 3d- per cents, £53 ss; Queensland 5 per cents. £73; Tasmanian 3d per cents, £69 10s; West Australian 3d per cents, £75. Australian circles in London are generally shocked at the increase, but it is felt in some quarters that even 20 per cent is not now unthinkable. There are several cases of extreme hardship, including several gentlewomen, owing to the difficulty and, in some cases, the impossibility, of getting dividends and remittances from Australia.
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Bibliographic details
Star (Christchurch), Issue 19270, 6 January 1931, Page 3
Word Count
143AUSTRALIAN STOCKS SHOW DECLINE. Star (Christchurch), Issue 19270, 6 January 1931, Page 3
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