SELLING WAVE ON STOCK EXCHANGE
Rec 11 o.m. LONDON, Feb. 10. Sir Stafford Cripps’s grim week-end balance of payments position and his warning about worsening Britain’s remarks about “ totalitarianism ” caused a wave of industrial share selling on the London Stock Exchange yesterday. The Daily Express City editor says nervous investors who unloaded stock were losing money at the rate of £20,000,000 an hour. Industrial share prices tumbled as much as 6s 9d, and falls in most shares averaged 2s 6d to ss. ■ The British Government, which holds £11,250,000 in Anglo-Iranian stock, lost over £4,000,C50 on the day.
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Otago Daily Times, Issue 26692, 11 February 1948, Page 5
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97SELLING WAVE ON STOCK EXCHANGE Otago Daily Times, Issue 26692, 11 February 1948, Page 5
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