Financial Notes
A ItisE IN SEC URITIES.
WnAmvErt disappointment may have been felt in the Stock Markets that the Bank Rate should not have been reduced, is certainly not shown in the course of public securities which, after a temporary set-back, again show a fairly general upward tendency, which is particularly noticeable in high-class investment stocks. This is the more noteworthy, not only because of monetary stringency, resulting from the ingathering of the taxes, but because of the continued out-pouring of new capital flotations, most of which continue to meet Vvith a good response. As 'previously explained- in these columns, the deferment of a reduction in the Bank Rate, notwithstanding the greater strength of the bank's position, is mainly due to the weakness of the American exchange and a revival in for,..ign demands for gold. What, however, is perhaps still more important to remember is that the weakness of the American exchange is connected with the after effects of the coal stoppage, which has made our economic position weaker than it usually is at this period of the year.
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