Financial Notes
IRREGULAR MARKETS.
IN a separate article I deal with the great advance which has taken place in certain shares in the Industrial group, and, for the most part, activity in the Stock Markets continues to centre in a few specialities where there are thought to be chances of capital appreciation. For in these days of high Income Tax it must be remembered that the investor has a perpetual stimulus to covet capital appreciation rather than high interest, of which the Exchequer takes such a full toll. High-class investment stocks are well maintained, but there is little business passing, and a somewhat unsatisfactory feature of markets is the slow rate at which unplaced blocks of recent new capital issues are apparently being absorbed. At all events, many of such -issues still remain at a considerable discount. The only really dull section of the House, however, is that for English Rails,. where some of the stocks are not far from the lowest points on record.
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