1IocEm...1, MARKETS.
Needless to say, the 41 per cent. Bank Rate has givro decided impetus to gilt-edged securities, and the gencal hopefulness of markets has also been increased by a recognilh'n of the fact that the Budget is now behind us. Chaotic con' dition.s continue, of course, to prevail in China, but in spite that fact, there has been a great turn round as regards nature of dealings in Chinese securities and during the 13- few days it has been as difficult to purchase them as it Was it sell a few weeks ago. Nor is this surprising, because Chine', stocks had fallen to a level which certainly allowed for a go. deal in the way of risks, especially when the general integrl of Chinese Governments, as tested over a very long period years, is borne in mind. Home Railways have also bee", rallying market ever since the fall in Bank Rate, being bello,. not only by easier money, but by the knowledge that returns will soon be comparing with the strike period of year. A good feature in the industrial group has been better tendency in the shares of-iron, coal and steel comPa Japanese bonds and the Japanese exchange have been sc. on the financial crisis in Japan, but at the tune of writ, there are signs that the worst of the panic is over, thougl!, is to be feared that owing to the severity of the crisis after-effects in Japan must last for a very long time. it
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