CONFIDENCE UNSHAKEN
BRITISH INVESTORS
STERLING REMAINS FIRM
(Received September 21, 1.30 p.m.)
LONDON, September 20.
The intensified blitzkrieg has signally failed to shake the confidence of the public-or demoralise the investor. The latest Bank of England return discloses a fall of nearly £2,750,000 in the note circulation, indicating that there has been little, if any, increase in evacuation, and no tendency to hoard. The behaviour of the Stock Exchange shows not the slightest sign of panic and no disposition on the part of ordinary shareholders to convert their holdings into cash.
Air-raid alarms and postal delays have certainly reduced business to negligible dimensions but the undertone is firm and prices are generally steady.
Likewise, the New York quotation for sterling has remained remarkably strong. The rate improved to a premium of one-half per cent, above the official selling rate. Financial commentators regard this as striking testimony of the improving confidence in Britain's prospects felt in the United States. ,
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Bibliographic details
Evening Post, Volume CXXX, Issue 72, 21 September 1940, Page 12
Word Count
158CONFIDENCE UNSHAKEN Evening Post, Volume CXXX, Issue 72, 21 September 1940, Page 12
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