FINANCE
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Abstract
Finance D financial markets were generally inactive during November. Stock prices eased and bond prices were firm, with trading in exceptionally small volume. The amount of publicly offered corporate security issues remained very low. Loans by reporting member banks to commerce, industry, and agriculture continued to increase slowly. In the foreign exchange market, quotations for the pound sterling moved erratically with changes in the outflow of short-term funds from London; transactions which are admitted to the Bank of England's official rate were not affected by the fluctuations. The inflow of gold in November was larger than in October, with British countries again the principal sources of gold imports. The stock of earmarked gold was again reduced by a substantial amount.