BUSINESS REACTION.

Manawatu Standard, Volume LVII, Issue 7, 7 December 1936, Page 7

BUSINESS REACTION.

SETBACK EXPERIENCED. LONDON, Dec. 5. The constitutional crisis gave the stock markets, which generally have successfull resisted foreign political developments, the biggest setback during two years. With sterling weak foreign stocks sold considerably, especially gilt-edgeds on Wednesday. 'lhe atmosphere calmed somewhat on Thursday, lower prices resulting in. a moderate rally, but the market, while convinced of the essential order ol British constitutional forms, remained apprehensive ot foreign and Imperial, repercussions. .Moreover, the position in Spain is still threateningBusness showed little increase on Friday, despite the better tendency. Chief operators were bargain-hunters and bears. Cilt-edgeds finished practically unchanged, but heavy industrials improved. Dr. Joseph Jastrow, ex-president of the American Psychological- Association, said: “The King is one of the war generation that has had to consider and reconstruct. If he had followed his fattier’s confirming footsteps he would have been obsolete.” Mr Wedgwood, president of the Wedgwood Potteries, says: “I sympathise with the King but Ins first duty is to bis country. England lias the right to choose her Queen.”