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DREARY MONTH.

Investment Activity Discouraged In London. BANK RATE MAY STILL RISE. (United Service.) LOXDOX, October 13. From the city's viewpoint the present month is the most dreary for many years. All causes have combined to discourage investment activity. Although the first rumours in regard to the extciit of the Ha try group's losses may now definitely lie discredited, it is apparent that the financial complications resulting from them will be even more complex than was originally expected. The bank rate makes borrowing practically out of the question for speculators dealing on small margins. Other causes of depression arc the general exhaustion of ready money following upon the end of the holiday season, also the continued uncertainty about the Government's financial intentions. This is not likely to be allayed before the House of Commons meets. Mr Snowden's recent statement emphasising the complete independence of the Bank of England from the Government is generally regarded as the solitarv bright financial event of the month. But there are persistent rumours that the worst has not yet come, and that the bank rate may be raised one half per cent, though there is no outstanding 1 feature for the past fortnight.

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/AS19291014.2.72

Bibliographic details

Auckland Star, Volume LX, Issue 243, 14 October 1929, Page 7

Word Count
198

DREARY MONTH. Auckland Star, Volume LX, Issue 243, 14 October 1929, Page 7

DREARY MONTH. Auckland Star, Volume LX, Issue 243, 14 October 1929, Page 7