Market Notes
FIRM MARKETS.
FAIRLY active conditions for the month of August continue to characterize the Stock Markets, and most of the price move- ments during the month have been in the upward direction. So far as the more speculative issues are concerned the impetus may be said to have come in part from New York, where in place of the apprehended rise in the New York Bank Rate has come an easing of money rates and a fresh rally in Wall Street. In this market, too, the fact that we are entering the autumn without any serious encroachment on our gold re- serves has tended to strengthen high-class investment stocks which have also been helped by the pause in new loan flota- tions and by the fact that heavy Government disbursements on September 1st promise to add somewhat to the volume of money seeking investment. A further good feature of the month has been the rally in home railways occasioned by better traffics and hopes of good results following from the recent extension of travel facilities.
Previous page