Financial Notes
UNCERTAIN MARKETS.
TliE influences operating upon the stock markets during the past week have been of a conflicting character, and the consideration of their nature is interesting and instructive, throwing light upon present conditions and giving some indication of the possible course of markets in the months to come. Broadly speaking, the outstanding feature has been the fall in many of the speculative and semi-speculative stocks, and the comparative strength of high-class investment securities. The explanation is a fairly simple one. The ma in factor has been the heavy liquidation in Wall Street which has caused a fall in many popular industrial stocks dealt in on both sides of the Atlantic. The fall in these stocks has naturally had a depressing effect here upon The speculative markets, as it has meant losses for English as well as American holders, and possibly has involved some extensive differences to he faced at the fortnightly settlement which will have been concluded before this note appears in print. Here, then, we have one explanation of the dullness of a large section of the Stock Exchange. What, it may be asked, is the explanation of the comparative strength of British Funds and kindred stocks seeing that we are still under the 61 per cent. Bank Rate ?
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