Financial Notes
FALL IN INVESTMENT SECURITIES.
THE outstanding feature of the past week has been the serious slump in British Funds and all high-class investment securities. Consols, the Conversion Loan and India stocks have collapsed in a manner more fitting to speculative markets than to trustee securities, while the week has also seen a collapse in English Railway stocks, both Ordinary and prior charges, and the shares of industrial companies in any way affected by Budget apprehensions have also weakened. Australian loans have also been flat on the cables from Canberra indicating that there, as here, Labour scouts the advice of the financial experts and is determined at all costs that there shall be no reduction in the general standard of. living. In contrast there has been quite a considerable
rally in some of the Transatlantic industrial shares, and in • some quarters, rightly or wrongly, it is believed that the
* The Fight for Financial Supremacy. By Paul Elazig. (Mao- rnillan and Co. 78. 6d.) trend of events here has inspired Wall Street with expectations that a stimulus to a revival in speculative operations may be supplied from this side of the Atlantic.
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