STOCKS IN LONDON.

Waikato Times, Volume 109, Issue 18343, 1 June 1931, Page 7

STOCKS IN LONDON.

EXCHANGE DEPRESSED. A LITTLE RAY OF SUNSHINE. BANKERS’ MONTHLY REVIEW. United Press Assn. —Elec. Tel. Copyright. (Received June 1, 9.30 a.m.) LONDON, May 31. Sinoe the resumption of business aSsr Whitsuntide the Stock Exchange has been in a condition, chiefly owing to unfavourable developments In Central Europe and the further weakness on Wall Street, though fortunately both failures were not important. Even British, funds, which had recently been so strong, showed some reaction. Foreign stocks were very weak on account of tho Austrian Bank failure and doubts about the German reparations payments. Yesterday, however, saw a little ray of sunshine, markets being mostly firmer. The extent of the shrinkage In values on the Stock Exchange Is revealed In the Bankers’ Magazine’s monthly valuation of publio securities which shows that the market value of 365 representative securities have fallen during the month by £219,000,000. The decline, with the exception of that of November, 1929, following the great slump in New York, Is the heaviest for many years, and brings the aggregate values very near the point at which they stood in 1922, when the Bankers’ Magazine commenced its records. Taking the general index number In December, 1921 as 100 the figure to-day Is 108. In January 1929, a few months previous to the eleotion of the Labour Government, Britain’s index number was 127 since when that figure has steadily gone down to the present level.