MONEY MARKETS

Wairarapa Daily Times, 18 January 1932, Page 5

MONEY MARKETS

ALMOST CHEERFUL GILT EDGEDS HARDENING, Press Association Electric Telegraph Copyright (Received Monday, 8.55 a.m.) LONDON, Sunday. There is no doubt that the city iecently has become definitely more optimistic. Despite lack of official encouragement and the even more threatening aspect of European finances, markets arc almost cheerful, gilt edgeds especially hardening. Led by War Loans and Indians, Australians have also advanced, notably New South ■Wales issues.

Dr. Bruening’s statement created an initial hesitancy, Avhich later was converted into renewed strength Avlien it was realised that bluntncss is likely to do good instead of harm. The “Economist’s” index, showing the nett profits of 47-i representative industrial undertakings for the last quarter of 1931. discloses a fall of £14,000,000, representing a decline of 54 per cent., the largest ever officially recorded. The previous loAvest Avas 53 per cent, in the last quarter of 1921, representing the slump follOAving the post-A\ r ar boom. The average rate of ordinary dividends is iioav 3.9 per cent., compared with 8.4 per cent, last year. ’