Financial Notes
CHEERFUL MARKETS.
IT is seldom that the financial sky is absolutely cloudless, and at the time of writing the chaotic conditions in China and the financial troubles in Japan may be regarded as clouds on the horizon not altogether to be ignored. Nevertheless, it must be confessed that apart from those centres of trouble the outlook is brighter than for some little time past. The improve- ment in the French financial situation, as indicated by the re- payment by the Bank of France to the Bank of England of the large amount mentioned in the above article, is an important factor. while a still more important point, perhaps, from the Stock Exchange point of view, is the fact that the Budget is now behind us and that its provisions were not of a character to affect the markets adversely. Indeed, the effect upon gilt-edged securities has been distinctly good, and during the past few days the outstanding features of markets have been the strength of British Funds and the rise in French Government securities, while Chinese stocks have also rallied somewhat. In the Miscellaneous Markets there has been quite a sharp rise in Dunlops owing to the proposed tax on foreign tyres.
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