RISE IN RE-DISCOUNT RATE
STOCK MARKET RECOVERY , v (By Electric Telegraph—Copyright) (Australian & N.Z. Cable Association) NEW YORK, 3rd Feb. The stock market gave an impressive demonstration of its inherent strength in recovering part of the heavy losses of the opening dealings which were made as the result of a rise in the rediscount rate. Some pressure which was apparent toward the close was due to nervousness over a report of excessive brokerage loans. Sterling dropped sharply on the theory that a higher hank rate would attract funds from London, but recovered, closing at 486|.
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Nelson Evening Mail, Volume LXI, 4 February 1928, Page 7
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94RISE IN RE-DISCOUNT RATE Nelson Evening Mail, Volume LXI, 4 February 1928, Page 7
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