SLUMP IN GERMANY
STOCK EXCHANGE LOSSES RESULT OF ’SPECULATION - (United Prsss Association.—Copyright.) BERLIN, 14th May. A hundred millions sterling is estimated to be the loss to German wealth aa a result of Black Friday, with its repercussion throughout the country Cabinet discussed the situation, when the opinion prevailed that the recent stock market boom had conveyed an impression of industrial prosperity which was non-existent. Criticism is levelled against the extravagant spendthrift habits of a section of the community compared with the struggle for livelihood of the masses. Cabinet confirmed the fact that the Reichbank’s foreign currency reserves are low, and endorsed Herr Schacht’s restriction of carry-over credits. In spite of official warnings the public have been indulging in orgies of jsharebuying. When the news of Herr Schacht’s action leaked out, the public began throwing shares on the markets m heaps. The tragic awakening was reflected in last night’s empty theatres cabarets, and restaurants.'
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Bibliographic details
Evening Post, Volume CXIII, Issue 113, 16 May 1927, Page 9
Word Count
153SLUMP IN GERMANY Evening Post, Volume CXIII, Issue 113, 16 May 1927, Page 9
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