FINANCIAL NOTES THE RISE IN GILT-EDGED STOCKS.
The strength in high-class investment stocks has been largely due to easier monetary conditions, following upon a steady. rise in the sterling exchange. During the past week the American exchange on London has once again touched the highest point since 1914, while a good feature has been the movement of the Dutch othhange in our favour and at the tithe of writing there seems to be some prospect of the Bank of England gaining some gold, which fact may conceivably be a prelude to a lower Rate a little time ahead. Bow far the rise in gilt-edged stocks may also have been stimu ,lated by talk of funding schemes by the Government, it would be a iffieult to say, but undoubtedly, if circumstances conspire to aid some further funding of the 5 per tent. War Loan into a still longer-dated security carrying a lower rate of interest, Mr. Winston Churchill might be glad to obtain even some quite small saving in the matter of annual debt charge at a moment when every penny counts in establishing a Budget equilibrium. * * * *
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