AMERICAN STOCKS
FOREIGN HOLDINGS
POSSIBLE ACTION
SURPRISE IN LONDON
(Britlsti Official Wireless.! (Received November 16, 11.15 a.m.) RUGBY, November lt>. Much interest has been aroused in i London by President Roosevelt's an-l nouncement that the Federal Reserve Board and the United States" Treasury would study and- if possible draft! necessary legislation to deal with tho j potential danger represented by huge I holdings by foreign investors and speculators of American stocks. II has been suggested that difficulties might become acute if foreign holders decided to dump their securities on the market.
Mr. Roosevelt is reported to have remarked that in the past foreign currencies and gold reserves had at times been seriously affected by concerted attacks made by private syndicates, instancing attacks on the currencies of France, Belgium, and Holland in recent years, and even on the pound. The gentlemen's agreement between the United States, Britain, and France on conditional stabilisation, he said, would make a direct attack on currencies difficult, but the element of danger to the stock market persisted.
The President's announcement has caused surprise in London, and further developments are awaited with interest,
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19361116.2.79
Bibliographic details
Evening Post, Volume CXXII, Issue 119, 16 November 1936, Page 9
Word Count
186AMERICAN STOCKS Evening Post, Volume CXXII, Issue 119, 16 November 1936, Page 9
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. 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.
Log in