13 JUNE 1931, Page 36

Financial Notes

THE STOCK MARKET POSITION.

STOCK market conditions have shown a rather better tone lately, but the volume-of business has remained at a very low level. The rallying tendency shown by New York has revived hopes that the long protracted fall in values there may have been definitely checked at last. Gilt-edged stocks have been steady, but the New Zealand £5,000,000 issue was left largely to underwriters and has been obtainable at a discount. The German agitation for another revision of Reparations has adversely affected the price of German Bonds, but the im- provement in Brazil Bonds has made further progress. The underwriting of the Woolworth issue was well received at the beginning of the week, and the response to the public offer of the shares was awaited with a good deal of interest as pro- viding a measure of the disposition of the public to invest in a sound industrial at the ,present time.