VAGARIES OF THE FRANC.
As distinct from high-class investment stocks and Home securities generally, it may be said that a good many of the speculative departments have. again during the past week been dominated by the fluctuations in the franc which at one time ,during the week rose to 128, though there was a reaction 'later. At the time of the flight from the frau by the Prtneh investor . it was easy to 'comprehend that the effect of these 'purchases by France of sterling securities such as De Beers Diamond, Rio Tinto Copper and other speculative favourites of the Paris Bourse was to occasion a rise in values. It must be remembered, however, that the reverse effect is produced when; with a. rising franc, the tendency is for the French investor to endeavour to get back into franc securities.
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