REVIVAL IN OIL SHARES.

It is always difficult—it might be said impossible--to dis- cern those directions in which speculative activity in markets is most likely to break out. At the present moment, although it cannot be said that speculation is really active in any depart- ment of the Stock Exchange, there have been unmistakable signs during the past few weeks of a much greater interest in the shares of Oil companies than has been manifested for a very long time past. How far imagination may have been fed by the temporary lack of oil fuel, by the boom in the motor industry—to say nothing of the reports of scarcity of oil some few years ahead—it would be difficult to say, but during the past week or two the rise in Oil shares has been pronounced, the outstanding features being the rise in Anglo-Persian, Burmah and Lobitos. The following table shows the current quotations of the shares of a few leading companies, com- parison being made with the highest and lowest quotations of the year :—

August 31st Highest and lowest 1926.

Anglo-Persian .. • • 5* 5* 31

Brit. Controlled. Corn.

•

8/- 17/6 7/6 Do. Pfd.

10/- 18/11 10/- Burmah .• 51 7*

4k

Lobitos • • 7* 7* 51 Mexican Eaglo Ord. • • 20/4k 25/3 17/3 Phomix £1 Shares .. • • 19/6 21/3 17/1k Royal Dutch

32.*

361 30# Shell Ord. ..

41 5k

4 tr

V.O.C. Holding

31 31

3 ill From the foregoing it will be seen that in the case of Anglo- Persian and Lobitos the present quotations are the highest touched this year Nowadays, too, when there is greater activity, no matter whether in the Oil, the Rubber, or the Mining Market, a good feature is the extent to which shares are taken up and paid for, owing to the lack of the full pre-War

* * * *

eontango facilities.