20 SEPTEMBER 1930, Page 34

British Government securities have on the whole held their position

moderately well, though at the moment of writing a slightly duller tendency is apparent owing to the adverse movements in the Foreign Exchanges and the continued foreign demands for gold. There has been a good deal of talk about a new Conversion Lean, but expectation is waning, as it is felt that the present moment is hardly opportune, notwithstanding the case in money, and it seems more probable even assuming that a Conversion Loan is within measurable distance that it will come nearer to the end of the year. On the other hand, I should quite expect to see a number of new capital flotations of the investment type in the near future. One such issue we know is already coming at the beginning of next week, namely, the offer of 5 per cent. Debentures by the General Electric Company at the price of 98 to deal with outstanding obliga- tions. A good response is expected to this issue, and in addition it is known that a fair number of Corporation issues are likely in the comparatively near future.