Financial Notes
NEW CAPITAL ACTIVITY.
THE Stock Markets during the past few days have been quieter, dealers no doubt awaiting further political develop- ments, both local and international. British Funds have yielded a little owing to political anxieties, but on the whole the undertone of markets has been fairly good and some Home Industrial shares have advanced. Not the least interesting feature of the situation is the revival of activity in, new capital creations, a circumstance no doubt due to the difficulty which investors find in obtaining existing securities at prices giving an adequate income. For the moment, therefore, activity in new issues is for the most -part takimre' the form of industrial and other flotations where the investor gets a yield, say, of at least 4 per cent. One of the most interesting issues of the present week has been the offer of an Argentine 4 per cent. Loan for just over £3,000,000 at the price of 94. The issue has only been announced at the moment of writing, but I have little doubt that applications will be on a large scale, the issue being made through Messrs. Borings.
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