CONFIDENCE STANDS
COMMERCIAL' BAROMETER
FIRM UNDERTONE
(United Press Association —Copyright.) (Rec, 12.40 p.m.) LONDON, Sept: 20. 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 note circulation, indicating that there is little, if any, increase in evacuation, with no tendency to hoard. The behaviour of the Stock Exchange shows there is not the slightest sign of panic and no disposition 0:1 the part of ordinary shareholders to convert their holdings into cash. Air raid alarms and postal delays have certainly reduced business to negligible dimensions, but the undertone is firm, and prices are generally steady.
Likewise the New Y'ork quotation for sterling has remained remarkably strong, and the rate has improved to a premium of per cent, above the official selling rate. Financial commentators regard this as a striking testimony to the ' ever-im-proving confidence in Britain’s prospects felt in the United States.
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Bibliographic details
Manawatu Standard, Volume LX, Issue 252, 21 September 1940, Page 8
Word Count
161CONFIDENCE STANDS Manawatu Standard, Volume LX, Issue 252, 21 September 1940, Page 8
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