A FINANCIAL OFFENSIVE.

Ashburton Guardian, Volume 55, Issue 293, 24 September 1935, Page 5

A FINANCIAL OFFENSIVE.

FRENCH SECURITIES ON MARKET ITALY ALREADY SELLING. PARIS, September 22. The newspaper “Vie Financiere” declares that the Italian Ambassador informed the French Government that Italy intends to throw all French securities held by Italians on the market unless the Bank of France agrees to rediscount them. Selling has already begun, .resulting in such sharp reactions that it is understood that the Bank of France rediscounted securities of a value of 400,000,000 francs. Influential traders who filled large Italian orders are urging rediscounting as they are anxious to get payment before the expected financial crash in Italy eventuates.

WAR RISK INSURANCE.

AN INCREASE IN R ATES

LONDON, September 22.

The City Editor of “The Times” says that war-disk insurance rates are stiffening. Voyages to Australia via the Suez are quoted at 6/3 per cent, and via the Cape at 3/4 per cent. Shipments to the Mediterranean and Red Sea are quoted at 5/- per,cent. These rates apply to early voyages, and the rates are considerably higher for more remote dates, the market preferring not to quote too far ahead.—“ Times.”

AUTOCRAT IRRESPONSIBILITY.

CHARACTER OF .MUSSOLINI

LONDON, September 23

“The Times” in a leading article, says: “Perhaps it is not unfair to believe that Signor Mussolini is itching to prove that his Fascists are fighting men, and would be disappointed with a bloodless triumph. “The atmosphere of adulation in which a dictator lives is fatal to judgment. None need credit the ridiculous rumour that 11 Dues is ‘off his head,’ but there is a form of irresponsibility not far removed from madness, to which all autocrats are liable when they cut themselves off from public opinion. This has been aggravated by the violence of the anti-British campaign in the Italian press. “British battleships do not intend to throw shells on Naples or Venice. The ships are there to maintain peace, to guarantee the security of the Mediterranean routes, and 1 to deal promptly and effectually with any incident which might set Europe ablaze.”