INVESTMENT MARKET
PUBLIC CONFIDENCE UNSHAKEN LONDON, September 20. (Received September 21, at 12.55 p.m.) The intensified blitzkrieg has signally failed to shake the confidence of the public or demoralise the investor The latest bank return discloses a fall of nearly £2,750,000 in the note circulation, indicating that there is little, if any, increase in evacuation and no tendency to hoard. The Stock Exchange behaviour shows that there is not the slightest sign of panic and no disposition on the part of ordinary shareholders to convert their holdings into cash. The air raid alarms and postal delays have certainly reduced business to negligible dimensions, but the underlone is firm and prices generally are steady.
Likewise the Now York quotation for sterling remained remarkably strong. The rate improved to a premium of 4 per cent, above the official selling rate. Financial commentators regard this as striking testimony to the ever-improv-ing confidence in Britain’s prospects felt in the United States.
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Evening Star, Issue 23687, 21 September 1940, Page 12
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157INVESTMENT MARKET Evening Star, Issue 23687, 21 September 1940, Page 12
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