BIG U.S. ORDERS AWAIT LOWERING OF STERLING
NEW YORK, Sept. 2:
Mr. Herman Bates, the head of a textile importing firm, said that American importers had placed “sizeable” orders in Britain subject to the devaluation of the pound. Mr. Bates, who has just returned from a buying trip abroad, said that many orders were waiting on the British docks for the outcome of the Washington dollar talks. He emphasised that orders were for staple goods which Britain sold in the American market for many years but which were too high with the pound at the present exchange level. He added that merchants on the Continent anticipated a 25 to 30 per cent, devaluation of the pound.
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Bibliographic details
Gisborne Herald, Volume LXXVI, Issue 23042, 5 September 1949, Page 5
Word Count
116BIG U.S. ORDERS AWAIT LOWERING OF STERLING Gisborne Herald, Volume LXXVI, Issue 23042, 5 September 1949, Page 5
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