Financial Notes
STEADY MARKETS.
THERE has been more activity during recent weeks in fresh capital flotations than in existing securities. Many of the loans, of which Belgium is the chief example, have been for quite large amounts, but not only has the response from the investors for the most part been a good one, but the effect upon existing stocks has been extraordinarily small. More- over, markets have also had to withstand the influence of dearer money, large gold exports, and a fall in the American Exchange, while the continuance of the coal stoppage and the recognition of the disastrous effect likely to be produced upon the national finances have certainly not conduced to activity in public securities. Nevertheless, with few exceptions, prices of stocks have been well maintained, and in the indus- trial groups a good feature has been the rise in some of the Shipping Shares. * * * *
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