Financial Notes
BRITISH FUNDS STRONG. •
ONCE again the outstanding featdre of-the stock markets has been the Activity and strength of gilt-edged securities. British Funds have, in -many cases, established high records, the upward movement, of course, receiving a fresh impetus from last week's reduction of ' the" Bank Rate to 2i per cent. followed by the decline in Bankers' DepoSit rates to I per cent. To some extent the rise in gilt-edged securities has *favourably affected other markets including some of the prior charge stocks of English Railways, and just a few of the leading home industrials, but elsewhere the tone has remained dull, the situation in the United States showing no improvement, while foreign stocks have been affected by the serious situation in Japan and by anxiety concerning the position in Austria and some of the other Central European States. On the other hand, Empire stocks have tended to improve under the lead of Australians which have benefited as the result of the formal dismissal of the Premier of New South Wales, which dismissal, it is presumed, represents repudiation on the part of the Commonwealth Government of the policy which Mr. Lang represented.
Previous page
