FINANCIAL NOTES
STEADY MARKETS. „ IT says much for the inherent strength of markets that even now, during what is usually reckoned to be one of the most stagnant weeks in the year as regards business, prices in most depart- ments should have been well held. British Funds and kindred securities keep as firm as a rock while a good feature during the week has been the slightly firmer tone in English Rails on a rather more hopeful feeling with regard to the coal situation.. At the same time, we are too- near the moment of dividelid distributions for any increase in activity, for in view of present conditions it is thought that ditectors will pursue a conser- vative and even cautious policy. Already a reduction has been announced in the interim dividend by the Metropolitan Company, and before these Notes appear in print the dividend declarations will have been made by the London, Midland and Scottish and the Southern Railways. In the more speculative sections of the House where there has been a fair amount of business during the first half of the year, such, for example, ns Courtauld's. and- sonde ..other. .industrial. descriptions, it is . not surprising That there should have been a slackening of dealings
just before the holidays, and.that realizations of profits should have occasioned some reaction in prices.
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