Finance—Public and Private
Securities and the Election
RIGHTLY or wrongly, it is assumed that, for good or for ill, the result of the General Election must have a con- siderable effect upon the course of public securities. In particular, it is maintained that should Labour obtain a victory over all other parties, or even if Liberals and Labour together should have a majority over the Con- servative, the effect upon securities would be unfavourable, and for that reason there is a tendency to restrict commit- ments in stocks pending the fateful issues on the 30th of this month. It is true, as I point out in- another column, that certain factors have helped to maintain prices in many directions, but they would probably be much higher to-day but for the election uncertainties, for it is a matter of common knowledge that many millions of money are temporarily placed on deposit with the banks or in short-term bills pending a clearer view of the domestic political situation.
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