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Auckland Star, Volume LXIX, Issue 65, 18 March 1938, Page 4

PANIC ENDED.

LONDON STOCK EXCHANGE,' GILT-EDGEDS IMPROVE. OTHER RECOVERIES NOTED. (Received 3 0 a.m.) LONDON. March 17. The panic which demoralised the Stock Exchange yesterday died down and '_ri!tedged opened with small i i.-es. Other j sharps showed recoveries alnio.-t as smart . as yesterday's fall. Rubbers and mines j were also firmer. EARLIER REPORTS. LONDON". March 10. I Hopes that the markets would over- j come their nervousness were shattered j this afternoon, when all classes of shares j were freely offered. "1 he volume of busi- j ness was not large, but prices were . marked down severely and closed at the i day's lowest point. __ I Industrials were heavy sufferers. Even • armament .shares finished weak, owing to j reports that trade unions will demand j greater control of profits. ' On the New York market, under the' influence of persistent weakness in London. stocks broke sharply. Exchange losses ranged over five points. European bonds continued to slump, but dealings were difficult to arrange. DECLINES IN NEW YORK. NEW YORK. March 17. The sharpest break since 10:?1 occurred i in foreign dollar bonds, pronounced weak- | ness developing in the so-called high-grade foreign logins. Declines ranged up ti 14 . noints. Austrian and Chechoslovakian j bonds showing the greatest losses. Stev- i ling dropped 2 cents to LOO. Dutch ' guilders were hardest hit. falling 4.1 point? to .j0.04. French francs alone escaped.