NEW CAPITAL ACTIVITY.
Not the least interesting feature of the week has been the continued flow of new issues of capital and the success which has attended almost all of them. One or two striking instances of success have been furnished both by high-class investment issues and by the issues of shares of industrial concerns. Thus, in the case of the offer by Messrs. Higginsons of £1,000,000 in 4 per cent. Bonds of the Mortgage Bank of the Kingdom of Norway, guaranteed by the Norwegian Government, the applications were so large that it was found impossible to make an allotment in respect of applica- tions for amounts below £2,000, and very large applicants only received 2 per cent. of the amount applied for. Again, in the case of an industrial issue where 650,000 shares were offered for subscription, applications were for just under
13,000,000 shares. * *
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