FINANCIAL NOTES
INVESTMENT STOCKS STEADIER.
JUDGING from present indications, it looks as though we should now have a pause in capital flotations so far as big Colonial Loan Issues or Trades Facilities Issues are con- cerned, and it is this belief which is responsible in part for the present steadiness of high-class investment securities. A few weeks ago, as I explained in these notes, the market was disturbed by financial congestion arising out of excessive capital flotations, and it is felt that there will now be a period for absorption, and that if the pause should continue through- out the summer and early autumn it is possible that the steadiness of high-class stocks may be more than maintained'. I rather fancy, however, that the pause may not be wholly unbroken, while it also seems likely that there will be a fair number of industrial flotations, several of those recently offered having been well applied for.
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