European Bonds Slump Heavily
Franc Sets All Time Record Low Level NO BUYERS FOR AUSTRIAN ISSUES United Press Association—By Electric Telegraph.—Copyright. Received Tuesday, 7.5 p.m. LONDON, March 15. One of the biggest slumps ever recorded in European bonds occurred on the Stock Exchange, where buyers could not be found for Austrian issues. Seven per cent, stocks tumbled down from 68 to 40. Czechoslovakian issues suffered almost as heavily, while bonds of almost every other European country were sharply marked d,own. Gilt-edged are also easier and most British industrials weak. The Foreign Exchange market is completely upset. The nervousness led to heavy buying of dollars, forcing intervention by the Exchange Fund. French francs broke to record an all time low level in terms of g,old values.
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Manawatu Times, Volume 63, Issue 63, 16 March 1938, Page 5
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125European Bonds Slump Heavily Manawatu Times, Volume 63, Issue 63, 16 March 1938, Page 5
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