NO SIGN OF PANIC
LONDON STOCK EXCHANGE PUBLIC CONFIDENCE STRONG (United Press Asn.—Elec. Tel. Copyrlgut) (Received Sept. 21, 3.15 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 returns disclose a fall of nearly £2,750,000 in the note circulation, indicating that there is little, if any, increase in evacuation and no tendency to hoard. The Stock Exchange behaviour shows that there is not the slightest sign of panic and no disposition on the part of ordinary shareholders to convert their holdings into cash. The air raid alarms and postal delays have certainly reduced business to negligible dimensions, but the undertone is firm and prices generally are steady. Likewise the New York quotation for sterling has remained remarkably strong. The rate has improved to a premium of one-half per cent, above the official selling rate. Financial commentators regard this as a striking testimony to the ever-improving confidence in Britain’s prospects felt in the United States.
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Waikato Times, Volume 127, Issue 21224, 21 September 1940, Page 10
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169NO SIGN OF PANIC Waikato Times, Volume 127, Issue 21224, 21 September 1940, Page 10
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