Report Berlin, June 4.
The money market was exceedingly liquid throughout the week owing chiefly to the falling due of considerable amounts of delivery certificates and Gold Discount Bank sola bills et the beginning of the week so that the end of the month settlement was effected without any perceptible difficulty.
Later in the week the demand for good short term securities and pri-vote discounts was brisk. The "Frankfurter Zeitung" index for the week shows shares at 130,05 and bonds at 101.73.
During the past week the stock exchange showed very interesting features due to the heavy demand for tax certificates Nr. I. which entitles the firms holding them continuously from June 30 to December 31 1939, to write off considerable amounts from the value of industrial plants thereby reducing profits and lowering the amount of taxes payable. As the available supply of these certificates is limited, competition to buy was keen with many firms selling shares and other securities to obtain ready; cash. These transactions however all took place outside the bourse from banis, to bank so that bourse business itself remained very restricted infits turnover. Owing to the abundance of offers outside share prices however declined.
The following are the quotations of some leading stocks at the beginning and end of the week respective-
German Dye Trust 178.50 178.50 150.00 ' 149.75
Text read from the printed page and cleaned; old type leaves the occasional error.