Financial Notes
CHEERFUL MARKETS.
ALTHOUGH we are now at the height of the holiday season August is already belying its old reputation for stagnation of business in public securities. Some ten days ago the markets were seriously disturbed for a time by the happenings in Germany and Austria, and also by the grave character of Mr. Baldwin's speech supporting the Government's progranune for increased aerial defence. But, while market operators and investors alike are sensible of the serious conditions pre. vailing in Europe, they are also, rightly or wrongly, of the opinion that nothing like an outbreak of war is possible in the near future. Consequently markets have experienced a quick rally, and at the time of writing the tone is good in most departments. By no means for the first time professional operators are busy laying in stocks in anticipation of a demand on behalf of the public as soon as the holidays are over. Whether these expectations will be fulfilled or not remains to be seen, but in the absence of fresh disturbing developments on the Continent, it looks as though firm markets might be looked for during the present month, with a good deal of speculation on South African, West African and Australian Mining shares.
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