FINANCIAL NOTES
RISE L's/ INVESTMENT STOCKS.
THE Stock Markets are still under the influence not only of the lower Bank Rate but of hopes of a further reduction. This is the main explanation of the continued firmness of high-class Investment Stocks, although they usually benefit at this period of the year by a pause in new flotations. It will be noted, however, that in contrast to the steadiness of most markets, and the firmness of a few, Home Railways keep decidedly dull, and needless to say this is due to the constant apprehensions with regard to Labour. Since the decision to appoint a Royal Commission to enquire into the coal industry, I do not find that Coal Owners have engaged in. any propaganda work likely either to embarrass the Commission or to spoil the chance of some improvement in trade during the next few months. Labour, on the other hand, both through the mouths of the mining leaders and the railway leaders, seems bent upon producing an atmosphere prejudicial to any kind of .confidence. And without confidence we can certainly have no trade revival worthy of the name.
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