2 MARCH 1929, Page 51

Financial Notes


THE Stock Markets are trying bravely to resist monetary influences, but it is not surprising that business is beginning to drag. On several occasions I have drawn attention in these columns to the great uncertainty of the entire financial position arising out of the prolonged boom in Wall Street, and the consequent dear money rates in New York, and in the first article of the Spectator's Financial Supplement, which appears elsewhere, I have dealt at some length with the extent to which the economic situation here is dominated by the position on the other side of the Atlantic. These conditions are now being more clearly perceived on the Stock Exchange as well as inthe business world, and dealings both in investment stocks and in speculative descriptions have been considerably restricted during the past week. Having regard to that fact, prices have been fairly well maintained, though at the time of writing, some of the gilt-edged stocks are displaying weakness,