RISE IN BRAZILS AND MEXICANS.

Moreover, the Foreign Market has also received a fillip from two different quarters. As a consequence of the material improvement during the last few weeks in the Brazilian exchange the securities of that country have risen appreciably, while during the past ten days there has also been a consider- able spurt in all Mexican stocks. These have been bought by New Yaic and 'at first it was supposed that developments were - proceeding in the direction of a Debt settlement, but apparently

the buying was on the part of those who had got wind of the impending recognition by the British Government of the Mexican Government, following the announcement of which event the securities have risen further. In noting the rise both in Brazilian and Mexican securities, however, allowance must be made for the very limited character of markets nowa- days, and it must not be supposed from the gains shown in the following table that the volume of business has been at all large. It has simply been a case of -few buying orders finding the market quite bare of stocks.

Brasil 41% Loan, 1883 .. Brazil 4% Loan, 1888 ..

Brazil 5% Finding . • Brazil Railway Guaranteed Bonds .. • • Brazil 5% Loan, 1903 .. Brazil 5% Loan, 1913 .. Brazil 5% Funding, 1914 Brazilian" Traction, Light

Power .. • -

Leopoldina Railway .. San Paulo Brazil Railway Mexican 5% ..

Mexican 6% .. Mexico City 5% .. Mexican Railway Ord. .. Mexican Railway 1st Pref. Mexican Railway 2nd Pref. Mexican Light and Power

The rise in Brazilian securities would seem to find sonic justification in the appreciation in the Brazilian milreis, but as regards Mexican stocks I fancy that holders will now be dis- posed to await with some anxiety developments in the direction of a settlement of theMexican Debt, for at one time it had been supposed that until such developments had -occurred there would be no recognition by our Government.

* *• * *_ Aug. 1. Aug. II, Rim

1925 1925

.. 51 . .. 54 .. 3 51 .. 54 .. 3 88 .. 90 .. 2 4% 45 .. 481 .. 31 74 .. 77 .. 3 56 .. 62 .. 6

75 x.d. 78 .. 3 and 60 .. 70 .. 10

159 .. 168 .. 931

38 .. 43 .. 5 40 .. 45 .. 5 19 .. 27 .. 8

6 3 22 29 . 7 10 .. 15 .. 5- 24 .. 27 .. 6

• • • •