Financial Notes
STOCK EXCHANGE DEPRESSION.
IT must be many years since the Stock Exchange experienced such pronounced and prolonged depression as that which is characterizing markets at the present time. A feature of the situation is the number of influences both domestic and international which are operating. The Trade Returns for September were the worst published for many years, showing a further heavy decline both in imports and exports, while Unemployment figures continue to rise. To these influences has to be added the revolutionary outbreaks in Brazil and other parts of South America, a feature during the past week being the heavy slump in all Brazilian securities, while Argentine Railway stocks have also given way sharply on the further fall in the Brazilian exchange. Yet a further adverse influence has been the unsettled financial and political situation in Germany and the continued flow of gold from the Reichsbank to -France, while, finally, fresh slumps in Wall Street have intensified the depression.
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