1 JUNE 1934, Page 30

Financial Notes


As mentioned at greater length in another column, the Stock Markets have been somewhat affected during the past week by anxiety concerning political and financial developments abroad, and the effect has been to occasion a rather general set-back in prices; almost the only market to escape the disturbing influence has been that for South African Gold Mining shares. Not that the decline in prices has been . at all heavy, if we consider the long-sustained upward movement, and wliile some existing "securities have 'weakened, the demand for new capital issues has been well maintained. Fresh evidence of the demand is afforded by the instant success which attended the . flotation of a Canadian Loan for £10,000,000 and the offer' of 4,500,000 shares of £1 each at 21s. 6d. a share in United Steel Com- panies. It must not be forgotten, however, that the success of these new capital issues is to some extent quickened by the activities of premium hunters who hope to snatch profits within a few days of the issue.