[It will be noted that our Financial article this week
does not bear the usual signature of Mr. Arthur W. Kiddy, who has been ordered a few weeks' complete rest. He hopes to resume early in the New Year. In the meantime the Financial article will be written by a highly competent authority in daily touch with City finance.]
Financial Notes
THE DULLNESS OF MARKETS.
THE bringing of the War Debt problem once more into the arena of international politics has produced all-round dullness in markets both at home and abroad, and weakness in gilt- edged stocks has been accentuated by the depreciation of the pound sterling in terms of the franc and dollar. This move- ment is believed to be due mainly to seasonal influences, accentuated by the uncertainties of the time, while other factors have been the approach of the end of the year with the
(Continued on page 752.)
Financial Notes
(Continued from page 750.)
prospect that balance-sheets will have to be drawn up on the basis of lower security values. International stocks have been depressed by the weakness in New York and on the Continent, but Home Industrials have been sustained by the Govern- ment's move to check the flood of foreign imports by the imposition of duties. It is recognized, however, that while the depreciation in the pound may give us a larger share of foreign trade and import duties may protect the Home Market, the slowing down of world trade has continued and no lasting improvement in our industrial situation is possible until world trade prospects are brighter.
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