Financial Notes
HESITATING MARKETS.
IT says much for the resisting power of the Stock Markets to unfavourable influences that prices, should, on the whole, keep fairly steady, at all events so far as the Investment sections are concerned. Even in that direction, however, there are some exceptions to note, and at a moment when conflicting political views are held with regard to the policy to be pursued in India, I do not think we should altogether ignore the fact that many holders of India Stocks are expressing their own opinion and their own concern by effecting sales of what only a few ycan ago used to be regarded as a security very nearly equal to that of the British Government. Government Stocks them. selves have not been too firm during the past week owing to the somewhat dearer rates in the Money Market. The mete fact that discount rates have risen a small fraction is, or course, in itself no reason for a set-back in Investment stocks, but there is uncertainty at present as to whether the rise will be sufficient permanently to check the gold drain or whether a higher Bank Rate will become necessary.
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