- Financial, - Notes-
UNCERTAIN MARKET/3.
BusmEss in the Stock Markets continues to be restricted owing to the general lack of confidence to which I referred in a special article last week. On the whole, prices are fairly well maintained and towards the end of last week it looked as though gilt-edged securities were about to appreciate in anticipation of the reinvestment of War Loan dividends to be disbursed on June 1st. At the beginning of this week, however, the market received a fresh damper in the shape of the announcement of another Indian Sterling Loan for £7,000,000, while on the same day it was also announced that underwriters of the London County Council Loan had to take up 62 per cent. of the issue, dealings in which opened, at about discount. With these constant fresh issues of capital, it is not surprising, therefore, that gilt-edged stocks merely keep steady, especially in view of the fact that even the extreme ease of money has been checked a little by the large gold withdrawals for France.
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