NO BAR TO PROGRESS

Ashburton Guardian, Volume 55, Issue 269, 27 August 1935, Page 5

NO BAR TO PROGRESS

LONDON STOCK EXCHANGE CALM VIEW OF ABYSSINIAN CRISIS. (United Press Association—Copyright). {Received This Day, 9 a.m.) LONDON, August 26.

Discussing the effects of the possibility of war on Britain’s financial position, the financial editor of the “Daily Telegraph” says that last week the Stock Exchange recognised the existence of a very awkward situation. Jobbers took precautions, reducing prices, while investors and speculators, both professional and private, kept their heads. The paucity of selling surprised the most experienced dealers. There seems no -reason why this steady attitude should not be maintained 1 until the League’s decision is known. If the world thought this country was steering toward war the effect on the rate of the pound sterling wofild be -seen very quickly, hut the tendency of the sterling irecrently has been to appreciate, which is the more notable because it is contrary to the usual seasonal trend. There is evidence that both leaders and the rank and file in the city and the investing public are calmly surveying all eventualities in a realistic froms of mind. The worst that the city looks for is a certain measure of hostilities in Abyssinia and a fresh period of grave uncertainty in Europe, but it recognises that nothing which is likely to happen need change the fundamental basis of British progress.