3 JANUARY 1931, Page 34

Financial Notes

INVESTMENT STOCKS FIRM.

Ai:mot:Gil there was less than the usual end-of-the-year optimism in the stock markets this week, the tone on the whole was a little more cheerful than a fortnight ago, while the outstanding feature was the jump on Christmas Eve in British Funds and kindred stocks. This was entirely due to the unexpected reduction on the previous day in the New York Bank rate from 2i to 2 per cent., thus raising the hopes of the market with regard to monetary prospects in the New Year, a point to which I make a fuller reference elsewhere. American securities themselves, however, have been comparatively dull, while in the miscellaneous markets Imperial Chemicals have naturally weakened a little on the death of Lord Melchett.