NEW TRUSTEE SECURITIES.
Gilt-edged securities have again been among the very few Stock Exchange markets to show any resistance at all to the general depression. It is evident that the uncertainties of the (Continued on page 668.)
FINANCIAL NOTES
(Continued from page 667.)
present time are driving a good deal of money into " safety- first " stocks. The opening of a new campaign of Corporation borrowing has thus been attended with a considerable measure of success. The £r,000,000 Hull Loan, consisting of 31 per cent. stock offered at tot, met with a good public response in view of market conditions prevailing at the moment of issue. Public subscription accounted for all but 27 per cent. of the issue, and the underwriters who had to take up this percentage did so without misgiving. The projected offer of L2,500,000 similar Sheffield stock on the same terms was a more difficult proposition for the market, and in view of the political uncertainties prevailing its postponement was a measure commanding general approval.
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