FINANCIAL NO - TES INVESTMENT Sroczs EASIER.
Aurnouun points like the removal of the embargo on- foreign loans referred to eisetvhere, and a feeling of hopefulness with regard to the-international 'political outlook, have-lieeasioned: moderate cheerfulness in some sections of the Stook:EXotange, the general tone has been pn_e-of hesitation.- from the consideration of the, problems-troubling.Erance. and Great Britain,- it is: recognized, of course, that even the.remnyakof the embargo on foreign loans is a circumstance Aid' may, adversely- affect existing -investment -securities. 'Already we havehaa one large Colonial loin in the shape 01 the Cold Coast' Issue for 24,600,000, and it seems likely that in the compara- tively near future we shall see a number of new loans, both for the Dominions and for foreign countries. Moreover, what is also likely is that at the beginning, at all events, some of the foreign loans will be of the best character, so that it will be a case of attractive yields combined with sufficiently good security and this, of course, must necessarily bring such loans into competition with high-class investment securities. It is scarcely surprising, therefore, that for the moment investment stocks and foreign Government issues should tend to droop a little, and that such business as is passing tends to shift to the more speculative and higher interest-yielding stocks.
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