FINANCE-PUBLIC AND PRIVATE
AT a first glance the rise in the Bank Rate of a week ago would seem to have had practically no effect upon the Stock Markets. After a temporary sharp reaction in British Funds and other high-class investment stocks, there has been a recovery almost to the previous level, and during the past week cheerfulness has characterized most sections of the Stock Exchange, while in sonic of the More Speculative Markets quite a considerable amount of activity has been noticeable, a feature being the buoyancy of some of the leading Industrials like Courtaulds, while in the still more speculative sections there has been a good deal of animation in some of the shares of Land companies in South Africa situated in the districts where certain discoveries of platinum have been reported. It would, however, I think, benawise to assume that we have seen the last of the effect of the new Bank Rate, and for those who are concerned in the probable course of securities in the near future it may be well, therefore, to consider the causes of the general steadiness during the past few 'days with a view to determining whether the firmness is likely to continue, or whether we arc likely to see a set- back in investment stocks even though other markets may tend to advance.
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