GOVERNMENT STOCKS

Wanganui Chronicle, Volume 84, Issue 67, 20 March 1940, Page 3

GOVERNMENT STOCKS

MINIMUM PRICES FIXED BY STOCK EXCHANGE Received March 19, 5.15 p.m. LONDON, March 18. The London Stock Exchange Committee has fixed new higher minimum prices for 18 British Government securities, including 21 per cent. Consols at £7O 10s; 4 per cent. Funding Loan, at £lOB 10s; 31 per cent. War Loan, at £95; 31 per cent. Conversion Loan, at £95; 4 per cent. Victory Loan, at £lO7. The minima for all other gilt-edged securities, including Dominions loans, will be fixed in a few days. Financial newspapers are of the opinion that this action shows that the authorities intend to finance the war on a 3 per cent, basis for stocks for the duration of the war. FOREIGN EXCHANGE BATES. LONDON, March 15. 1 Foreign exchange rates are: —New York (dollar). 4.002; Montreal (dollar), 4.45; Paris (franc), 176;; Amsterdam <gr.), 7.555; Brussels (belga). 23.675; Milan (lire), 73.00; Hongkong (dollar), 14Zd; Shanghai (dollar), 4 5-32; Stockholm (kr.), 16.90; Copenhagen (kr.), 19.0 G; Batavia tfl.), '<.44 to 7.54; Oslo (kr.) t 17.70; Geneva lir.), 17.90; Bombay (rupee), 18d, Kobe (yen). 15 11-16 d; Buenos Aires (pcs.), 17.075. PRICE OF SILVER. LONDON, March 15. Silver is quoted at 20 15-16 d a standard ounce, and 22 9-16 d fine. WEAKNESS IN STERLING. NEW YORK, March 16. Sterling closed at 3.71 i dollars to the pound, compared with 3.761 last Wednesday.