RENEWED ANXIETY

Auckland Star, Volume LXX, Issue 183, 5 August 1939, Page 9

RENEWED ANXIETY

MARKET REACTIONS.

Rising Trend Of Industrial Activity In Britain. SEVERE DECLINE IN NEW YORK United Press Association.—Copyright. (Received 1- noon.) LONDON, August 4. The nominal movements on the stock market became irregular, renewed international anxiety outweighing inflationary sentiment. There has been good buying of commoditybased shares. The continued fall of unemployment, the new record note issue, the contraseasonal improvement of provincial bank clearings, and a sharp increase in beer consumption arc among the latest additions to the constantly accumulating evidence of the rising trend of industrial activity. Banking circles are not prepared to read any inflationary tendencies in the growing public demand for currency, a«:ribing the new all time record to rising employment, calling up of the militia, mobilisation of the reserve Fleet and widespread holidays with pay. It is believed the early launching of a defence loan is not contemplated. The New York stock market suffered the severest decline since late in June. Losses totalled approximately a thousand million dollars from the value of all listed shares which had risen four billion from the end of June until this week. The losses ranged from fractions to over three points. Experts explained the decline as technical, although some contended that Mr. Chamberlain's statement that the British Fleet might go to the Far East had a bearish influence.