Report Berlin, Jan. 22.
After the last payments for the new Reichs loan were made by the credit institutes and the semimonthly settlements were disposed of, a certain liquidity of the money market was noticeable. Shares were in increased demand towards the week-end. This was partly due to the expectation of higher dividends as the result of successful trading during 1938 which is expected to permit leading shares to show a better return in the invested capital than most of the fixed interest securities, for example the Reichs-loans, by 1 to 2 per cent, such difference proving a great attraction for the small investor, AEG. General Electrics shares for instance are expected to pay a dividend of 6 per cent, for 1998 against 4 per cent. in 1937. The total turnover is however still relatively small.
The bourse reacted favourably to the change of the Reichsbank Presidency and appreciated the significance of the appointment of of State Dr. Brinkmann of the Reich Economics Ministry for the Vice-presidency of the Reichsbank, these measures completing the process of amalgamation of the directorate of the Reichsbank with the Economics Ministry.
The following were the quotations of some of the leading German shares on January 16 and 21 respectively Reichsbank German 'e Trust Salzdetfurth Potash United Steel Works 188.00 187.50 149.875 14915.00 14100
Siemens & Halske General Electrics AEG. Rhenish-Westphalian Power Hamburg-American Line North German Lloyd Bemberg Rayon Deutsche Bank Deutsch-Asiatische Bank Young Loan —Trans-Ocean.
Text read from the printed page and cleaned; old type leaves the occasional error.