Finan cial_ Notes WAR Lo. STRONG.
IN a separate article I have dealt at some length with the general effect of the Presidential Election upon the stock markets, and upon the intimate connexion which still exists between conditions in Wall Street and conditions on the London Stock Exchange. During the past week, however, attention here has probably been quite as much -occupied with somc of the high-cfass investment stocks as with speculative favourites dealt in on both sides of the Atlantic. How far the strength of gilt-edged stocks may be connected' with hopes of. easier money - after:the turn of the" I should scarcely like to say, but I cannot help thinking that the possibility of that -event is -kept-in mind. A further and more immediate, factor, _however, has, been the knowledge that on December 1st over £50,000,000 in War Loan dividends will be released, and there is usually a tendencYin the Market to anticipate by previous purchases the likelihood of some portion of this money being reinvested in Government securities. Neither is the fact ,that early in the New Year large loans of Government Bonds will mature a depressing influence, because experience iii re-Cent years has shown that, previous to any Conversion operation, there is usually a good deal of Government support of existing securities, while the terms of the new loan are usually of a nature which tends to stimulate existing securities.
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