10 AUGUST 1929, Page 30

SPECULATIVE INFLUENCES.

At the same time, it is impossible also to escape the conviction that, monetary influences notwithstanding, there is a good deal of vitality in some of the industrial and more speculative markets. In other words, speculative forces, especially on the other side of the Atlantic, do not seem to have spent themselves, and moreover speculative forces in America are reinforced by great stores of liquid -capital outside the control of the banking institutions. It would not, therefore, be altogether surprising if these forces were to occasion a continuance of activity in a few leading industrial specialities, notwithstanding the fact that we have now reached a period of the year when Stock Exchange business is supposed to be at its lowest ebb.