U.S. BUSINESSMEN WARNED
Over-Optimism In Boom (Rec. ».30 P SHINGTON Au< _ u Mr Sinclair Weeks, the Secretary of Commerce, sounded a note of caution at his press conference today, when he warned businessmen against overconfidence and against undue speculation in the face of booming production records. He said that his warning against over-optimism stemmed from the same impulse that prompted the Government’s recent action in tightening housing credit, raising stock exchange margins, and increasing the discount rate on Federal Reserve loans to banks. Mr Weeks said that he had recently passed a second-hand motor-car dealer’s establishment where he had seen “good-looking” cars for sale, for only five dollars down payment. He said: “I wondered that businessmen can think that, in this manner, they are proceeding on the basis of sound business practices.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19550813.2.97
Bibliographic details
Press, Volume XCII, Issue 27736, 13 August 1955, Page 7
Word Count
132U.S. BUSINESSMEN WARNED Press, Volume XCII, Issue 27736, 13 August 1955, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in