Financial Notes
CONSIDERING the amount of attention given during the past week to the U.S. War Debt controversy, the stock markets have held their own wonderfully well. There have, of course, been two main influences of a favourable character operating. Following the temporary disturbance on December 1st inci- dental to the heavy payments connected with the Government Conversion operations, there has been a return to conditions of extreme ease in money, and this has had a favourable effect upon high-class investment stocks, while a further influence operating has been the satisfactory character of the latest developments at Geneva. The latter in its turn has also been responsible for a rise in German Bonds. Assuming the- War Debt payment of December 15th to have passed off satis- factorily, I should expect the investment markets at all events to show a firm front during the next few weeks, while (Continued on page vi)
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