The Importance of Special Knowledge regarding the Regularly Recurring Causes that Influence the Markets
Dull and disagreeable weather, as a rule, adversely affects the stock markets more or less, according to the extent of counteracting influences. In the London market more especially is it so, on account of the effect produced on the money market by the collection of the revenue, which always keeps the Bank of England’s reserve at a comparatively higher figure during the period named, a circumstance of considerable importance. The professional speculative element in the community sniffs this movement on the part of the public with the accuracy of a pointer that has found his birds, and they commence to draw the credulous by fictitious prices, and then unloading to be ready when the relapse comes to commence anew when another favourable opportunity offers. A speculator in railway stocks must watch the course of trade, the colonial produce, the Manchester and Liverpool markets, and note the character of the business doing in the great staples of industry.