Financial Notes
HorEria, MARKETS.
CONSIDERING that we are now virtually at the height of the holiday season the Stock Markets, though quiet, are pre. senting a very cheerful appearance, and if during the holiday period prices are well maintained, it may be taken as a pretty fair indication of readiness to rise on any buying orders. Interest for the most part continues to centre upon the two extremes of the market, namely, British Funds and kindred stocks and Gold Mining Shares. The former are still chiefly affected by the cheapness of money and by uncertainty in regard to the outlook in other directions, while, as I have previously explained in these columns, even Gold Mining Shares are bought by some people on the safety-first principle. No doubt speculative buying or buying on expectations of capital appreciation continues to be responsible for activity in the Mining Market, but owing to the uncertainty with regard to future prospects of currencies there have been a vast number who have purchased actual Gold or Gold Mining Shares on the belief tllat when stabiliza- tion takes place a devaluation of the pound may accompany it.
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