FRENCH SALES.
In the case of Mining and other speculative shares which have been sold from Paris during the past week, one of the main causes has been the appreciation of the franc. Six months ago, when the French investor was fleeing from the franc, there were heavy French purchases of sterling securities, and now, with a return of confidence in the franc, realizations have been effected and there has been a considerable repatria- tion of French money. It is possible, too, that in the case of some of the shares of Diamond companies the fall may have been accentuated by the reported alluvial discoveries ; but it is, I think, the French selling, for the reasons mentioned, which has proved the greater influence. In the case of the decline in De Beers, the movement is the more striking, because the annual report and balance-sheet of that company, just recently published, was an excellent one.
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