"ADMIRABLY CALM"

Wanganui Chronicle, Volume 80, Issue 101, 2 May 1938, Page 11

"ADMIRABLY CALM"

LONDON EXCHANGE BUDGET’S RECEPTION COMMODITY MARKETS WEAK Received May 1, 5.5 p.m. LONDON, April 29. The London Stock Exchange received the Budget with admirable; calmness, and selling on the part of professionals proved to be mistaken Prices, though inclined to sag at the end of the week owing to the disappointing behaviour of Wall Street, show little change. On the other hand, some sections, notably gold shares, continued their upward movement. Commodities are inclined to be weak. Non-ferrous metals, rubbei-, and cotton are all easier. Reports from the industrial centre continue to be discouraging. The Board of Trade’s retail trade statistics for March show a decline of 3.7 per cent, compared with February. The consumption of coal is declining and export orders for coal are not improving. The iron and steel industries are quiet. The consumption of cotton goods is still below the production level, but the volume of orders in the wool and textile trade is slightly larger. Foodstuffs are firm. [ British Official Wireless.) RUGBY, April 29. The total amount applied for in tenders for £45,000,000 of Treasury bills was £80,315,000. The average rate per cent, for bills at three months was 10s 0.99 d., against 10s 2.95 d a week ago.