OTHER IMPENDING ISSUES.
Quite apart from the Government Conversion Loan, I anticipate considerable activity in the matter of capital creations during the early weeks of the new year. As noted elsewhere, the Money Market usually experiences a certain amount of ease during the first ten days of January, and doubtless there will be a disposition to take advantage of these 'conditions. One Loan alone mentioned in the Market is likely to run into several millions, and smaller individual issues by Corporations and by certain industries may be expected. The Bulgarian Loan, offered just before Christmas,
was heavily oversubscribed, the very large applicants, indeed, only getting about 3 per cent. It is pretty clear, however, that the very small subscribers who were generously treated must have been " out for premiums," for heavy selling of the Scrip has prevented it from rising to any material premium
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