Financial Notes
GOVERNMENT MATURING DEBT.
APART from English Railway stocks where a further decline has to be recorded, the Stock markets during the past week have presented a fairly cheerful appearance. The fortnightly settlement in the previous week was concluded without a disclosure of any serious difficulties, though one or two positions had to be arranged and taken over. The gilt-edged market has been quite steady, though there has been rather a pause in activities such as frequently takes place when the market is on the tip-toe of expectation with regard to a Conversion Loan. As I have already mentioned in these columns, the Government has a large amount of maturing Debt to deal with at the beginning of next year and, in view of the favourable conditions usually created by the distribution of the War Loan dividends as on December 1st, the market is quite prepared for the issue of a Conversion prospectus at any moment. In the Industrial section there has been a good deal of activity during the week, but movements now are of a very irregular character, and it looks as though activity in the near future might be confined to a few specialities with probable sensational movements in those particular shares, but with less activity in the market as a whole.
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