Financial Notes
DEPRESSED MARKETS.
NOTWITIISTANDING cheap money and constant talk about Government conversion schemes, even British Funds and
kindred securities have been under the influence of the depression which has characterized most sections of the Stock, Markets during the past week. The longer the trade depressiod continues, the more clearly is it recognized that the causes operating are complex and go very deep. Moreover, there
can be no question that just as a year ago the psychological sa effect of Mr. Snowden's Budget was to shake confidence and de give a fresh downward impetus to prices, so in that respect history is repeating itself at the present time. Moreover, it is noticeable that the further fall in money rates in the. United States is having no effect in reviving financial and commercial activities in that country, and renewed selling from Wall Street has emphasized the depression here, .,AbgtO the out- standing feature of the week has been the further heavy fall in English Railway stocks, to which fuller reference is made elsewhere. Speculative markets, including mining shares, have, however, also suffered. * * * *
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