IN accordance with usual custom, the Stock Exchange 'was closed on New Year's Day, and I am unable, therefore, ;to report on the condition of markets at the opening of the New Year. To judge, however, from the closing days of 1935, it looks as though end-of-the-year optimism would certainly extend into the opening days of the New Year. During Monday and Tuesday of this week, there was a fairly general advance in all securities and not least in British Funds and kindred stocks which were expected to benefit by the reinvestment of dividend moneys on January 1st. A demand for industrial shares and for aviation shares was also a feature of markets, while Home Railways were fairly well maintained, notwithstanding apprehensions concerning the threatened coal strike. A factor which also helped the market for industrial shares was the very satisfactory figures of employment published on the last day of the year.
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BRITISH INDUSTRIES FIXED TRUSTS.
The latest brochure issued by British Industries Fixed Trusts has an interesting foreword by Mr. Hartley Withers, the Chairman of the Trust. Attention is drawn to the Trusts' four "Portfolios." These Portfolios are separate and distinct Trusts, each concerned with a different list of 25 Securities, so that anyone who has invested in all four Portfolios has an interest in 100 established British Companies and, incidentally, receives 8 dividends per annum. The book is well worth procuring by the small investor and can be obtained from Allied Investors Fixed Trusts, Limited, 165, Moorgate, E.C.
A. W. K.