WALL STREET BOOM
AN INEXPLICABLE ADVANCE IN PRICES COMMENT IN BRITAIN OUTLOOK RATHER DOUBTFUL LONDON, June 30. The “Financial News,” commenting on the fresh advance on Wall Street, declares that the energy and vigour of the advance justifies the description of a boom, which by all technical criteria has not yet reached its peak. The advance remains inexplicable, as there is little evidence of industrial recovery. The market is thus discounting not only an autumn revival but a strong and lasting improvement in trade.. At present, says the paper, it is impossible to. make out a convincing case for the advance, though a deflationary spiral is hardly possible owing to the 'promised spending of the New Deal. Wall Street will be severely tested in the next few weeks, find, if it emerges satisfactorily, there will be reasonable hope that the worst of the 1937-38 depression has passed.
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Wairarapa Times-Age, 1 July 1938, Page 7
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147WALL STREET BOOM Wairarapa Times-Age, 1 July 1938, Page 7
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