STOCKS IN LONDON

Wairarapa Times-Age, 1 August 1939, Page 7

STOCKS IN LONDON

HOPES OF STEADY RISE IN PRICES IN ABSENCE OF POLITICAL SHOCKS. MORE COMMENT ON POSITION OF NEW ZEALAND. By Telegraph—Press Association—Copyright LONDON. July 29. Most com mental ors consider | liai | he market has til lasi lurned lhe comer and that, barring political shocks, there should be a steady rise in prices accompanied by tin expansion of business. The settlement of the New Zealand loan has removed one cause of weakness from the gilt-edged market.

The “Investors’ Chronicle” describes the terms of the New Zealand loan as an ingenious compromise necessitating economising on lhe part of the Dominion.

Britain does not object to the Dominion seeking Utopia if she can afford it, but when she is living beyond her means Britain is entitled to suggest a curtailment of expenditure, specially where Britain’s own business interests are affected, the journal states.

British exporting interests appear to have come out worst in the bargaining.

The “Economist” similarly insists that while Britain does not wish to interfere with New Zealand’s internal policy, Mr Savage must associate it with the hard facts of the larger world. Now Zealand is lhe least able of all countries to afford economic self-sufficiency, as the level of her internal costs is divorced from the trading position.