Financial Notes
RALLY IN BRAZILS.
THE stock markets during -the past week have been quieter and steadier on the whole owing to a slackening of the gold drain from the Bank. Since my last article was written, however, there have been stirring developments, such as the heavy drain of gold to France and the advance in our own Bank Rate last week from 2f to 3i per cent. Those developments have, as might have been expected, caused a considerable reaction in -British Government securities, and, indeed, last week the decline in prices extended to practically all departments of the Stock Exchange. During this week, however, reports have been current as to the adoption of measures for improving the Sterling. Exchange, and although more gold his gone from the Bank of England the drain has been less pronounced than in the previous week. Some of the movements in the Foreign market have been of a striking character, .and while Chilian Bands have fallen shaiplY on the Moratoinim in that .eountry, Brazilian- -Bonds have rallied appreciably on the publication of the Report on Brazil by Sir Otto Niemeyer.
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