APART from the welcome news of the re-election of President Hindenburg in Germany, most of the factors operating on the Stock Markets during the past week have been of an unfavour- able character. Increasing anxiety with regard to the probable losses arising-out of the Kreuger and Toll affair, acute depres- sion in Wall Street, and the financial crisis in many of the central countries of Europe have been among the influences affecting markets adversely. Thanks to the continuance of cheap money, gilt-edged securities have kept fairly firm, while the strength of that market has even been assisted, to sonic extent, by the distrust of more speculative stocks. During the latter part of the week business has also, no doubt, been restricted to some extent by reason of uncertainty with regard to the Budget secrets to be disclosed on Tuesday. At one time there was a sudden and fairly pronounced spurt in Iron and Steel shares on market rumours of a possible 20 per cent. tariff duty, but the best prices have not been held.
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