Financial Notes
RISE IN INVESTMENT STOCKS.
THE stock markets have been overshadowed during the past week by the Easter holidays and to some extent also by Budget uncertainties. Making allowance, however, for these factors the general tone of markets has been fairly good, the most noteworthy exception being the heavy fall in German Bonds. High-class investment stocks have been favourably affected by cheap money and by the reduction of the Bank Rate in New York, while no better indication of the growing scarcity of high-class investment stocks giving a good yield to the investor could be afforded than the fact that J. Lyons & Co. successfully placed on Tuesday an issue of £1,700,000 in 4 per cent. First Mortgage Debenture stock at the high price of 104 per cent. Eighteen months ago it would have been impossible even for the British Govern- ment to have borrowed at such a low rate of interest.
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