THE STOCK EXCHANGE.

Waikato Times, Volume 100, Issue 16748, 15 March 1926, Page 5

THE STOCK EXCHANGE.

BRAVE WINNING FIGHT. ADVERSE INFLUENCES OVERCOME. TRADE FACILITIES ACT LOANS. (Australian ind N.Z. Cable Assn.) (Received March 18, 8.5 a.m.) LONDON, March 13. The Stock Exchange has been putting up a brave fight, and a winning file, against a combination of adverse influences, which might well have caused a serious slump in values. There have been a panicky fall on the New York Stock Exchange, a political crisis in France, with the consequent fr.ll in Ihc franc, fears of an engineering lock-out in England, uncertainly about Ihc coal report, and a threatened deadlock at Geneva. The cumulative effect of all these has failed to do more than restrict business, and the general tendency of prices on th. 3 Slock Exchange has been Arm, with the exception of. Home railway stocks and oils. The recovery of the price of raw rubber had a corresponding effect on shares. The feature of the Stock Exchange is the success attending the new capital issues of four industrials, which have been over-subscribed This week two new loans under the Trade Facilities Act have been underwritten — £2,000,000 for the Dorman Long Company for Ihc development of their coal mines in Kent: and £2,750,000 for the Blue Star line for the construction of eight new steamers. Both these issues are at 5 per cent, and at par, and as they arc guaranteed, by the Government their full subscription is probable. Other issues arc talked about and a Brazilian loan of £2,500,000 at 7 per cent, at £95 is coming next week. Meanwhile nothing is beard of the New South Wales issue. The prevailing opinion in financial circles is that it is being held up because the Prcir.ier wants a higher price than the Slock Exchange is willing to give.