THE MARK RECOVERS

Hokitika Guardian, 3 December 1921, Page 2

THE MARK RECOVERS

FORTUNES MADE AND DOST. iuST KAI.UN *SU N.*. CABUS ASSOCIATION. LONDON, Dec 2. b’ortunes were made in « few knurs J tte ImUCo ..I Ocnr «™*‘ " “ i.;«i n«r '"««•« “ ; 1 " 11 “\v i, 'fry- s* ;r“'s »!»; “w « 1 the pound on Tuesday, hut tile possibilities of n moratorium started the buying. Some operators took • profit of 2s (id to the £l. OnMediiesdav the belief in an improvement u Germany's financial position was «n stnmoer On Thursday, t ruinh, Dutch

black Thursday

ON rerun *ro*K TKCHANOK.

BERLIN, Dec. 2. Tin. Stork exchange members ( . lilo the dav as “Bbtek lhumday. Speculators wore in a tremendous hur. t 0 M .II, while there was time to save themselves. The hi* hanks are now holding a meeting to ‘hx-tde t Ih»v will eontinue to prop up the bus ness houses whirl. *re threatened w.th collapse. There is little doubt many ■ \ . hankers who (lo stockbrohiug K i» "ti» «»«>.« «1»H. ...... n r, t't.v n.o <!»"«'■ <« I tn V. The dollar then de"ri>'dated to 238 marks. On Wednesday the dollar opened at '2OO marks On Thursday the collapse of the dolin' continued to 180. This meant rum to thousands of stockbrokers and •the' s ’- | who for two months had Wen spec - ti..K heavily against rnrreno, | nnd now are m a mood oP h.ttu 1 1>0 Manv war-made million,ures will have to' sell'their luxury motor ears to pay tiled" grocers’ and tailors* hills, so oompletelv did the gambling mania seize the men with money to burn. Hie rum has reached all rlassos of the population- teachers. clerks, and g.rl typists falling tin company with wealthy ptofessional and social peopte. .1 mt,m«nt scenes were witnessed in the vicinity ot 1 the Bourse when the actual conditions | were revealed. As soon as the mark ,began to improve, the •'orernnient ; loosed its official brokers, who eagurlv lmuoht foreign currencies, with the ,o- ---‘ s „lt. that the (lovermmmt has been j ahie to save hundreds of millions of ' "larks. , . , Imnortors of raw inn tennis and fowl- ' stuffs have negotiated large foreign purchases, 'which will inevitably roJ suit in the fall in the cost of iiviug.

True MARK IMPROVES. LONDON, Nov 30. Due to the sugfuosted moratorium, tlio oorm an mark has horde noil- with sympathetic improvement in French, illelnia.il, Italian, Swiss, Dutch. Swedish and Austrian currency. The “Times” adds: It should lie dearly understood that Mie_.sy«K*ntion of a moratorium, was not made with a. view of obtaining a reduefion in the amount fixed ljv the London agreement, but will incroaise the prospect of payment.