ANOTHER PANIC
ON GERMAN BOURSE COLLAPSE LIKELY lElec. Tel. Copyright-United Press Assn.) (Australian and N.Z. Cable Association.) (Received Nov. 8, '■' p.m.) BERLIN*, Nov. 7. The Bourse promptly reacted to the publication of Sir Parker Gilbert's memorandum, some shares losing over 30 points. Financial circles fear a collapse similar to Black Friday of May. A.total of £100,000,000 was the estimated loss to German wealth as the result of "Black Friday" with its repercussion throughout the country'. Cabinet discussed the, situation, when the opinion prevailed that the recent stock ■market boom conveyed \an impression of industrial prosperity, which was non-existent. Criticism was levelled against the extravagant spendthrift habits of a. section of Jhe community, compared with the struggle for livelihood of the masses. In spite of official warnings the public had been indulging in orgies of sharebuying. The .tragic awakening was reflected in empty theatres, cabarets and restaurants.
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Bibliographic details
Poverty Bay Herald, Volume LIII, Issue 16491, 8 November 1927, Page 11
Word Count
146ANOTHER PANIC Poverty Bay Herald, Volume LIII, Issue 16491, 8 November 1927, Page 11
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