Investment, an exact science

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Monograph

Identifikator:: 865521182

URN:: urn:nbn:de:zbw-retromon-48767

Document type:: Monograph

Author:: Lowenfeld, Henry

Title:: Investment, an exact science

Place of publication:: London

Publisher:: The Financial Review of Reviews

Year of publication:: 1906

Scope:: 1 Online-Ressource (X, 160 Seiten)

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter II - What influences the realisable value of stocks

Collection:: Economics Books

29 bow quickly these individual movements exhaust their force and how rapidly the deviating stock once more swings into line with the general movement which controls the whole chart. For .example, take the year 1904-1905. It is wonderful with what unanimity nearly all the stocks show an upward move in that year, following on the long monotony of falls in the preceding seven or eight years. The only substantial exceptions are Bass, Ratcliffe Pre ference, and Spencer, Turner & Boldero. If we consider these two stocks for a moment, we at once recognise the reason for their distinct price-movements. The former was subject to a special influence in the state of the legisla tive and temperance movement, which is putting all Brewery investments in Great Britain under a shadow. The reason for the movement in Spencer, Turner & Boldero is at mice seen by a reference to the dividend table, wherein we discover that from 1903 to 1905 there is a drop of £15 in the dividend paid by that company. In 1905-1906 there is a somewhat hesitating tendency ; indeed, a very similar state of affairs exists to that indicated by the chart iu the year 1896-1897, just prior to the continuous fall.

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