26 MARCH 1927, Page 42

Financial Notes


TIIE Stock Markets have been passing through a rather dull time during the last ten days, having to withstand adverse influences in the shape of the news from China, apprehensions with regard to possible trouble in the Balkans and the losses arising out of the recent pronounced fall in Oil shares. When allowance is made for these factors, the underlying strength of markets is still an outstanding feature, and not the least striking point during the past week has been the continued steadiness of high-class investment securities notwithstanding the constant stream of new capital issues. During the past week, for example, in addition to certain small Corporation issues, we have had the announcement of a London County Council Loan for £6,000,000 in 4i per cents. at the price of 93i p.c. ; while another interesting flotation has been the offer by Messrs. Hambros, Morgans and Rothschilds of an Italian Industrial Consortium Loan for 11,600,000 in 7 per cent. Sterling Bonds. The issue was over-subscribed in about an hour.