Financial Notes
CONTINUED ACTIVITY.
IN the preceding article I have dealt somewhat fully with the general speculative movement on the Stock Exchange, but it must not be supposed that the rise in shares of the more speculative character constitutes the only feature on the Stock Exchange at the present time. The reverse is the case, because, curiously enough, we have activity at the moment centred in two extremes of the markets, namely, in the specu- lative group and in the highest class investment stocks. British Funds are gradually creeping up to nearly the highest points touched since the War, and this rise is the more remark- able in view of the constant issues of new capital of the invest- ment as well as of the speculative character. The only outstanding exception to the cheerfulness of markets is the continued heavy fall in rubber shares owing to the uncertainty of the outlook, resulting not merely from the recent official announcement of the Restriction Plan being investigated by the Committee of Research, but from a 'growing conviction that in its present form, at all events, the Stevenson Plan of restriction is not only inadequate to meet the requirements of the situation, but in certain directions is conceivably actually harmful to British rubber growers.
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