SALES MORATORIUM
Crisis in Pepper Market FINANCE BEING SOUGHT (Received February 7, 7.10 p.m.) London, February 7. The crisis in the pepper market has necessitated a five days’ moratorium on all sales while Mincing Lane brokers negotiated with banks to finance 6500 tens of pepper coming to London necessitating £2,000,000 to be found before the week-end. Banks are disinclined to assist firms which have weakened themselves by speculation, but are willing to help sound firms who have not overtraded. The “Daily Herald” says that efforts are being made to form a cartel to take over altogether about 25,000 tons of pepper which is either in London or due within a few days.
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Bibliographic details
Dominion, Volume 28, Issue 115, 8 February 1935, Page 11
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112SALES MORATORIUM Dominion, Volume 28, Issue 115, 8 February 1935, Page 11
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