BRITAIN’S FINANCE.
TREASURY BILLS SOLD. £62,065,000 PLACED. NEARLY A LOW 'RECORD. (Official Wireless.) (Received May 9, 10.43 a.m.) RUGBY, Aiay 8. The market for British funds and other gilt-edged securities remains strong, and the city view is that this will continue until other securities which are dependent for their income on a recovery in trade become attractive once more. Yesterday there was a further general advance of an appreciable amount in all long-term British stocks.
The Times says the still easier conditions on the short loan market and ■the widely-held expectations that a long period of cheap money is in prospect, combined with the continued scarcity of bills, were responsible for a further, sharp fall in the treasury bill rate. Applications for £35,000,000 of three months’ treasury bills, put up for sale by tender, were £62,065,000. The whole amount of the offer was allotted, and the average rate of discount worked out to only 30s 11.36 d per cent, per annum, which is nearly a low record.
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Waikato Times, Volume 111, Issue 18631, 9 May 1932, Page 7
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167BRITAIN’S FINANCE. Waikato Times, Volume 111, Issue 18631, 9 May 1932, Page 7
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