FINANCIAL NOTES
DEPRESSING FACTORS.
THE favourable influence created in some markets, and especially in gold shares, by the large addition to the Exchange Equalisation Account has been offset during the later days of the week by a feeling of greater anxiety with regard to the international political situation and still more perhaps by the French currency and political crisis which, in particular, had a depressing effect upon gold-mining shares, especially when the announcement came on Tuesday morning of the closing of the Paris Bourse and a semi-moratorium with regard to French liabilities in gold or foreign currencies falling due as from June 29th. The market for gilt-edged securities, too, has been adversely affected by the poor response given by the public to the L.C.C. Loan for £ro,000,000, and the 3i per cent. War Loan has fallen below zoo, being the lowest point touched sincc 1933.
Previous page
