BRITISH BANKS
HOPE FOR BETTER TIMES. [United Press Association.—By Elect™ Telegraph.—Copyright. ] London. October 5. The first expression of opinion by any member of “The Big Five” banks on the suspension of the: gold standard is continued in the monthly review of the Midland Bank. It declares that the outlook may legitimately be viewed with calm and confidence, and there is no ground for panic or even pessimism. Britain’s plight, it states, is not worse than other temporary abandonment of gold and it may indeed', mark the turning point of the world slump to world recovery, since it intensifies the urgent need for international collaboration.
“The worst is over the best is yet to be.”
GER MAN BANKRUPTCIES
LONDON. October- o
The “Daily Mail’s” Berlin correspondent says the seriousness of the situation in Germany is revealed by a rapid increase in the German bankruptcies. For September they numbered 1029, compared with 735 in August. There have so far been 9771 bankruptcies and 5690 composition in nine months.
The Mansfield Copper Works are on the eve of closing, as the main works are losing forty thousand sterling monthly. The workers have rejected a twelve per cent. cut.
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Hokitika Guardian, 7 October 1931, Page 5
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195BRITISH BANKS Hokitika Guardian, 7 October 1931, Page 5
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