AUSTRALIAN BANKS
THE EXCHANGE RATE BRITISH PRESS COMMENT Praia Association—By Telegraph—Copyright LONDON, January 8. The ‘ Financial Times ’ says: ‘ ‘ The absence of a statement from the associated banks is causing surprise in the city, and well-informed people express the opinion that the breakaway by the Bank of New South Wales may lead to a collapse of the ring. The exchange is fluctuating in accordance with the actual market conditions, which is eminently desirable.” The ‘ Financial News ’ remarks: “ The city has interpreted the latest advices from Australia unfavourably, and funds have been influenced and stocks lowered.” The ‘Daily Telegraph’ says: “Although the reduction of the Union Bank interim dividend was not surprising, Australian Bank shares were marked down, and are standing generally at or below the lowest levels touched in 1930.”
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Evening Star, Issue 20687, 9 January 1931, Page 9
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129AUSTRALIAN BANKS Evening Star, Issue 20687, 9 January 1931, Page 9
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