SECURITIES MARKET

Evening Post, Volume CXXII, Issue 119, 16 November 1936, Page 12

SECURITIES MARKET

A SLIGHT REACTION

GILT-EDGED FIRM

RISE AND FALL OF SILVER

(By Telegraph—Press Assn.—Copyright.}

(Received November 16, 9.50 a.m.) LONDON, November 14.

The boom-like conditions of the investment market of last week produced a reaction early this week/The upward movement lias lost its momentum, except for one or two individual groups such as tin shares, which have not yet discounted the gains in value made from the increase in the quota. Restoration of order, however, is growing with activity in trade and belief in further progress has generally maintained the strength of public securities which, despite the darker background of European politics, is still stimulated by President Roosevelt's victory, which is expected to further advance American industries. Nevertheless Mr. Roosevelt's subsequent references to possible control of j foreign buying of American securities has greatly surprised the city, as any j • imposition of restrictions on the deal-! ings by citizens in a friently country is unprecedented in time of peace. AMERICAN POLICY. Financial commentators are of the opinion that Mr. Roosevelt aims at preventing a repetition of the boom and its' subsequent catastrophe in 1929, while American authorities are possibly perturbed by the recent rapid appreciation of the dollar which is mainly due to the influx of foreign funds for investment. The markets closed for the week in a somewhat subdued tone and this condition was due in part to profit-taking. Industrial shares and gilt-edged securities are firm. Dominion Government loans are quietly steady. Tin closed at £242 per ton. Lead and spelter were active. , Silver had a small boom during the week and touched 22 15-16 d per oz,. when Indian speculators became sellers. Several million ounces have been reported as having changed hands but when brokers had difficulty m finding buyers the market finally declined to 21d per oz.