Financial Notes
NEW LOAN ACTIVITY.
SOMEWHAT uncertain conditions have characterized the Stock Markets during the past week. On the one hand purely domestic factors, such as cheap money, good figures of un- employment, and conditions of home trade generally, have been favourable influences. On the other hand an increase of anxiety concerning the Abyssinian crisis, and the political and financial situation in France, and also the fall in Wheat and some other commodities, have had a disturbing effect upon some markets. It is possible too that British Funds, which have weakened at times may have been affected by the advent of the new Indian Loan, the announcement being made on Wednesday that India was raising a Loan of 110,000,000 in 3 per Cents. at 98 per cent, with the object of redeeming about £12,000,000 of outstanding 6 per cent. Bonds. Indeed, a feature of the situation continues to be
the activity in the matter of new issues of capital, both of the trustee and of the more speculative type. For the most part, however, the response on the part of the investor con- tinues to be a ready one, and the eagerness of trustees to obtain Loans, issued under par, may be gathered from the fact that the New Zealand • Loan offered about ten days ago, although in 3 per Cents. at 98i per cent., was greatly over-subscribed.
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