FINANCIAL NOTES
• HOLIDAY MARKETS.
WE are now entering upon what is= usually reckoned to be the most stagnant month on the Stock Exchange. Not infre- quently, August has belied its reputation and after the first week of idleness being given up to Bank Holiday influences, activity has sprung up in some corner or other ofthe Stock Markets. At the moment it is perhaps a little difficult to see in what direction activity may be looked for, but there are two points which it may be well to bear in mind. One is that recent issues of capital have demonstrated that there is still a great deal of cash awaiting investment, while the other is that if, at any moment, we were to get a settlement of the coal deadlock, it is conceivable that some of the stocks, such as English Railways, for example, and the shares of iron, coal and steel companies, which have been so greatly depressed, might experience a recovery.
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