PANIC SELLING
COLLAPSE OF SECURITIES IN BERLIN ATTEMPTS TO STEM CRASH FAIL EFFECT OF POLITICAL FEARS By Telegraph—Press Association. Copyright. (Recd This Day, 11.25 a.m.) LONDON, August 17. The Berlin correspondent of “The Times” says the slump on the Bourse has been accelerated, outstripping anything known since the Nazis attempted to control the markets in 1933. Private individuals and professionals threw their securities recklessly on the market, and the banks fitfully and cynically tried to stem the crash and retired under overwhelming defeat. Sellers are prompted as much by political panic as by economic fears. Securities connected with Central Europe and Czechoslovakia are conscipuously being discarded, losing as much as 17 points. Pressure on Reich loans is severe. The authorities have be obliged to make a great effort to maintain quotations. A severe fall in German defence industries indicates mistrust of the regime’s economic achievements and intentions. Complaints against increased industrial costs have been renewed, while industrialists are also protesting against the use of German capital resources for Austrian reconstruction.
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Wairarapa Times-Age, 18 August 1938, Page 8
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170PANIC SELLING Wairarapa Times-Age, 18 August 1938, Page 8
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