INVESTORS CALM.
BLITZKRIEG FAILURE. Americ.i's Confidence Seen In Sterling Rise. Uni ted Press Association.—Copyright. (Reed, 12.30 p.m.) LOXDOX, Sept. 20. The intensified blitzkrieg has signally tailed to shake the confidence of the public or demoralise the investor. The latest bank return discloses a fall of nearly £2,750,001) in the note circulation, indicating that there is little if any increase in evacuation and no tendency to hoard.
'the Stock Exchange behaviour shows not the. slightest, sign of panic and no disposition on the part of ordinary shareholders to convert their holdings into cash. Air raid alam* ami postal delays have reduced business to negligible dimensions, but the undertone is Arm. Prices generally are steady. Likewise, the New York quotation for sterling lias remained remarkably strong and the rate has improved to a premium of i per cent above the official selling rate.
Financial commentators regard this as striking testimony of the ever-improving confidence in Britain's prospects felt in the United States.
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Auckland Star, Volume LXXI, Issue 225, 21 September 1940, Page 9
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160INVESTORS CALM. Auckland Star, Volume LXXI, Issue 225, 21 September 1940, Page 9
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