London, Mar. 17.
Sharp all-round improvement occurred on the Stock Exchange to-day, with recovery in all sections due to bear-covering in the absence of any further adverse developments in the European situation.
The rise in prices was accentuated by the activities of bargain hunters, who, by virtue of their substantial liquid resources, were able to avail themselves of favourable purchasing opportunities.
Well-informed quarters hold the opinion that the technical rally in British gilt-edged securities is playing a large part in the restoration of confidence generally. During the course of the day the strength of British gilt-edged issues imparted firn.ness to the rest of the list. Brew-ries and tobaccos showed r ney, while the Cape and Paris bought kafürs.
A crowd of brokers in the Street during after hours awaited news of the Imperial Chemical dividend, This was eventually announced as 5^2 per cent. final making a total dividend for the year of 8'2 per cent, compared with 8 per cent. paid last year. The price of the stock spurted from 28/9 to 29/9, and then to 29/1 Among commodities. wheat closed easier owing to the improvement in European politics.
£7,000,000 Gold to US.
The recent flight of Europ capital to the United State? finds reflection in an authentic report that gold valued at approximately £7,000.- 000 will shortly be shipped from the United Kingdom to the United States. Well-informed circles express the opinion that the shipments are entirely connected with operations by the various European exchange funds.
Gold advanced 3d. to 140/0%d. The dollar parity was quoted at 1d. premium.
Spot silver advanced ad. to 20!2d..
hile the forward quotation advanced ahd, to 20d. Bears covered, while oculaters and India bought. Buyers were satisfied.
A more hopeful feeling was also refected in the foreign exchange market to-day, where pressure to sell currencies of those countries adjoining Germany was less pronounced The American dollar continued to meet with Continental demand, but the British control experienced no difficulty in keeping the sterling-dollar rate on a comparatively even keel.
Although initially erratic, the franz later turned firmer against sterling, owing to bear-covering. in the belief that the internal political situation is likely to become more settled in the near future.—Reuter, Commons Are Advised of 36-Hour Ultimatum Warsaw, Mar, 18.
The entire country is in ferment following the despatch of an ultimatum to Lithuania by Poland demanding satisfaction for the recent frontier incident in which a Polish soldier is alleged to have been killed by Lithuanian guards, and restoration of diplomatic relations between the two nations.
Gigantic demonstrations are taking place in the capital and other large cities demanding action against Lithuania. Speakers at all demonstrations are openly urging the Polish. army to enter Lithuania to "restore order."
Marshal Edward Rydz-Smigly, Chief Inspector—(Commander-in-Chief) of the Polish Army. arrived at Vilna to-day and was welcomed with. great enthusiasm by huge who shouted: "March to Kann: seize Lithuani The Polish ultimatum has not yet been published, but it is stated to set a time limit for a reply from the Lithuanian Government.
Among other things it is said to reject Lithuania's proposal for the appointment of a mixed commission io study the frontier dispute, and demands the resumption of diplomatic relations between the two countries, which have been severed ever since Poland seized Vilna in 1920, and the appointment of a Lithuanian representative to Warsaw before March 31 The situation between Poland and Lithuania became tense early this week when several incidents were reported on the frontier. The first alleged that a Polish soldier had been killed by Lithuanian guards. Subsequently, relations -became even more strained when fifteen Polish soldiers were stated to have crossed the: frontier and kidnapped a Lithuanian policeman.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.