Financial Notes
POLITICAL MARKETS.
As might have been expected in the absence of any settlement of the Abyssinian crisis, the Stock Markets have become in- creasingly dominated by political influences. For the past three weeks in The Spectator I have emphasised this important factor in the situation, not as one necessarily bringing about a permanent and disastrous fall in prices; but -one which was almost bound for a time to restrain both speculative and in- vestment operations in securities. In some quarters I notice that even now the set-back in stocks is described as being due to nothing more than lack of. business during the holiday season, but that is not a true picture of the situation. At' the beginning of August there was quite a rush of buying largely of a professional, character, and to, that extent political appre- hensions revealed some weak positions, the realisation of which hai, probably left the markets in a generally sounder condition. Nevertheless, for the most part the disposition is now to await further political developments before increasing financial
commitments. * * *
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