FALL IN GILT-EDGED STOCKS.
I have referred to the decline in securities as moderate, but perhaps some will be inclined to maintain that so far as British Government stocks and kindred securities are concerned the decline has been something more than moderate. And, indeed, there would be something to be said for this assertion so far, at all events, as movements during the present year are concerned, though perhaps I have more in mind the very great rise which has taken place in gilt-edged securities during the past three years. NevertheleSs, the fall which has taken place in Government and kindred stocks from the highest quotations of the present year is considerable and it may be useful, perhaps, to place the movements on record : Highest. Lowest. Aug. 28- Local Loans 981
India 21% .. 861 71 71
do. 3%.. .. 95} 801 83
L.C.C. 21% .. 92 81 811 do. 3% .. .. .. .. 981 92} 941
From the foregoing it will be seen that several of the leading stocks are either actually at the lowest of the present year or are within a fraction of the lowest, and when it is remembered that one of the main factors responsible for the advance, namely, the cheapness of money, is still in operation, it can be admitted that, given an improvement in the political situation, a recovery in gilt-edged securities should follow. * * * * Consols 21% ..
do. 4% .. War Loan 31% .. Funding 4% ..
do.. 3% ..
Victory Bonds 4% Conversion 31% do. 41% .
• .
. 94/ 11811 1101 1211 106 1191 113 1141 831 831 113 1131 1041 1051 1151 1161 101/ 1021 1131 1131 1041 1041 1101 1101 931 941
Previous page