POLITICAL INFLUENCES.
- --As regards the first of these factors, I-must; in-weighing the probabilities of the year, even at the cost of being accused of political bias, state quite plainly how the matter is viewed from the financial standpoint. If there were to be any reasonable anticipations of a victory at the election by the Labour Party the result undoubtedly would be to cause a general restraint -both in- speculative and .invest- ment activity, and possibly a marked reaction in values of Stock Exchange. securities. I am not saying for a moment -Whether the-apprehenSiOni as to the:effect of a Labour GOvernment being in power would Or would not be justified, but of the effect upon securities of anticipations of the-client, there can be no doubt whatever. Therefore; because of the proverbial uncertainties of politics and general elections, it is not improbable that should the New Year open with renewed activity on the Stock Exchange, such activity may be checked as the time for the General Election -approaches.
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