BRITISH TRADE

Manawatu Standard, Volume XLIX, Issue 241, 10 September 1929, Page 8

BRITISH TRADE

STOCK EXCHANGE DULL. (United Press Association—By Electric Telegrap h. —Copyright.) (Australian Press Association.) LONDON, Sept. 7. The monetary position has dominated the Stock Exchange for some time past and fears regarding an advance in the bank rate have counterbalanced the effects of the satisfactory settlement at The Hague, with the result that the gilt-edged market has been generally dull and heavy. The only redeeming feature has been \ ictory bonds, which have benefited from the reinvestment of bonds redeemed at the beginning of the month. Dominion and colonials have been very dull, with prices inclining downwards. In the almost complete absence of any public interest in them there seems little prospect of any improvemnet this month, for the risk of an advance in the bank rate is likelv to continue until the beginning of October. Successful tenderers for the Commonwealth of Australia Treasury bills have no reason to regret their investment, for there has been quite a good demand for these bills at a shade over 6 per cent, discount. They were allotted at an average of £6 3s, so sa *®® 6 per cent, mean a good profit, it is believed that the demand for these bills comes from big insurance companies, and as about 6i per cent, on the actual capital invested is still obtainable on them, the demand for them by such institutions does not cause surprise.