29 JUNE 1929, Page 36

SUBSEQUENT DEVELOPMENTS.

So far as the three factors already enumerated are concerned, it may be said that the only one which has developed favourably from the stock market point of -view is the agreement reached by the Committee of Reparation experts. The result of the General Election has necessarily brought with it a good deal of uncertainty With regard to the future, and uncertainty is not a favourable factor for " bulls " of securities, while, although there may have been some slight reduction in the specu- lative position in iVall Street, the financial position in the United States as a whole is still of a character calcu- lated to exert an unfavourable influence on the general monetary situation. What, then, it may be asked, are the prospects for the second half of the year ? -