Financial Notes
CONTINUED ACTIVITY.
ALTHOUGH, as noted in another column, the activity and buying of many Industrial securities are maintained, not the least interesting feature of markets during the past week has been the great firmness and, indeed, in some cases the upward trend of prices' in gilt-edged securities. A good effect was produced by the fact that the Birriiingham Corporation Loan for £5,000,000 was over-subscribed in spite of the terms being regarded as rather high.. A good many underwriters are believed to have taken the stock firm and at one time it was quoted at discount, but at that level many buying orders were reported and it looks as though the original issue price might be maintained. British Funds have been conspicuously firm and it is indicative of the confidence which is felt nowadays in the Government being able to make an issue of a Conversion Loan on terms calculated not to disturb existing prices that the market should be so little affected by the fact that early in the New Year large lines of Government obligations will mature.
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