BREAK IN PRICES
THE AMERICAN CRASH
‘•Thio break in prices in America is not to be wondered at,” stated Mr Harold. Beauchamp, chairman of tho Bank of New Zealand to a “New Zealand Times” representative, “m ™w of tho difficulty that, has occurred m respect to her overseas trade. He break may have been brought about by the fact that some of the European countries so heavily indebted to the near future to meet their financial obligations. That is the only theory that I can put forward in respect to the matter of the break in prices and securities. The New York stock market has always been an extremely sensi--1 five one.' For example just before I left France for New Zealand, the interest charged for short loans to members of the Stock Exchange for a brief period was at the rate of 30 per cent per annum, that being the highest point touched since the crisis of 1910.”
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Hokitika Guardian, 12 February 1920, Page 4
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159BREAK IN PRICES Hokitika Guardian, 12 February 1920, Page 4
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