Financial Notes
BRITISH FUNDS FIRM.
DURING the past week the tendency in the Stock Markets has 'been rather uncertain. Gilt-edged securities have, of cmurse, benefited materially by the reduction in the Bank Rate And show substantial gains for the week, the market being helped moreover, by a revival of rumours as to conversion pro- spects. Home Railway stocks, on the other hand, have suffered in consequence of a continued decrease in traffics, while a real shock was imparted to the market by the North Eastern results, the directors being only able to pay one per cent on the Second Preference. This means, of course, that all the prior charges of the North Eastern Railway no longer even rank as ' Chancery " trustee stocks, though in passing it may be pointed out that trustees who have already invested them are not called upon by law to realize. Transatlantic securities have also been an uncertain and rather dull market, Wall Street being affected by the continued outflow of gold and the decline in the dollar exchange. In the Foreign Market Chinese and Japanese Loans have, of course, been adversely affected by the situation in the Far East.
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