London Speculators Burn Their Fingers With Brazil Rails

Grey River Argus, 22 May 1947, Page 7

London Speculators Burn Their Fingers With Brazil Rails

LONDON, May 20. The Evening Standard’s city editor estimates that thousands of speculators lost £2,000,000 when the stocks of the British-owned Brazilian railways and utility companies slumped heavily at the opening of the Stock Exchange to-day. For the past two months small speculators have been buying stocks at rising prices in the hope that the Brabilian Government would buy the companies opt of Brazil’s sterling balances. Now it is reported that Senor Machado; the Brazilian delegate to the talks with the British Treasury, is returning to Brazil without completing a deal.