TRADE CONDITIONS.
AUTHORITATIVE VIEW. SLUMP NOT - IMMINENT. LONDON, Dec. 7. There is no slump and no reason to anticipate a slump, declared Rt. Hon. Reginald McKenna, chairman of the Midland Bank, in a speech at Birmingham. He pointed out that the recent setback in certain sections of trade had been caused by an almost complete cessation of expenditure by big American industrial companies. When they, censed to buy raw materials, prices. fell and this affected the Stock Exchange, resulting in a certain decline in the luxury trade, but returns from all over the country gave no indication that the decline was general.
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Manawatu Standard, Volume LVIII, Issue 9, 8 December 1937, Page 9
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102TRADE CONDITIONS. Manawatu Standard, Volume LVIII, Issue 9, 8 December 1937, Page 9
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