1 NOVEMBER 1930, Page 38


Nor have high-class investment stocks lagged behind while British Funds under the influence of cheap money and eonvey sion rumours have risen further. The Chancellor of the Exchequer undoubtedly achieved a shrewd stroke when he decided to repay the 4 per cent. tax compounded Loan calif in January, the prospect of the reinvestment about that time of nearly £70,000,000 having a stimulating effect ups!' the market for British Funds. On the other hand, and 111 painful contrast has been a serious decline in all Australian securities consequent upon the result of the New South Wales Election and the apparent rejection by that State of the sound recommendations of Sir Otto Niemeyer in the direction of drastic economy in the public expenditure.