11 MARCH 1966, Page 27

Investment Notes

CUSTOS

Tl IF excitement this week was the sudden spurt in steel shares on Mr. Wilson's interview statement that the industry will be nationalised on the basis of the old White Paper. Although Mr. George Brown had told a BBC interviewer that the White, Paper would have to be looked at again, including the terms of compensation, the market WaS persuaded that Mr. Wilson was the more credible and that the old terms of com- pensation would stand. The shares did not hold their gains. 1 he more cynical decided to ignore the whole epkode and take no selling or buying action. With Wall Street in sharp retreat, the equity market as a whole is bound to be dull until the end of the month.