10 Jahre Wiederaufbau

Bibliographic data

Monograph

Identifikator:: 1768152721

URN:: urn:nbn:de:zbw-retromon-148079

Document type:: Monograph

Title:: 10 Jahre Wiederaufbau

Place of publication:: Wien

Publisher:: Wirtschaftszeitungs-Verlags-Ges. M.B.H.

Year of publication:: 1928

Scope:: 664 S.; Ill.

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Der Ausbau der Wasserkräfte in Österreich / von der Wasserbausektion des Bundesministeriums für land- und Forstwirtschaft und vom Wasserkraft- und Elektrizitätswirtschaftsamt (WEWA)

Collection:: Economics Books

26 The reason of this seemingly contradictory movement was that the Taff Vale Railway Ordinary stock, being a British security whose market is entirely in this country, was more dependent for its price fluctuations on the trading and financial conditions of Great Britain, and their effect on the London Stock Exchange, than it was on its own merits. The price of Taff Vale stock did not there fore improve with its improving yield and its enhanced capital safety, hut simply followed in * the wake of the general investment conditions obtaining on the British Stock. Exchanges. This example is not an isolated one, and similar cases occur by no means infrequently. Thus, Lancashire & Yorkshire Railway Ordinary stock sold in 1904 as high as 111 ; early in 1907 its price was 101, yet the dividends paid on this stock were as follows : 1904, 3f per cent. ; 1905, 3} per cent. ; 1906, 4f per cent. Again, South Eastern Railway Preferred Ordinary stock received the following dividends : 1904, 4£ per cent. ; 1905, 5 per cent. ; 1906, 5¿ per cent. ; whilst in 1904 the stock sold at 135 and early in 1907 at 115. A large number of equally striking examples could be qtioted. So as to make it additionally clear that it is the Market Influence which mainly controls

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