BRITISH FINANCE
A DREARY MONTH INVESTORS CAUTIOUS (United Service.) LONDON, October 13. From the city's viewpoint the present month is tho dreariest for many years, all causes combining to discourage investment activity. Although the first rumors regarding tho extent of the Hatry group losses may now definitely bo discredited, it is apparent that the financial complications resulting therefrom will be even more complex than were originally expected. • Meanwhile, the bank rate makes borrowing practically out of the question for speculators dealing on small margins, other causes of depression being the general exhaustion of ready money following the end of the holiday season; also the continued uncertainty regarding the Government's financial intentions, which are not likely to be allayed before the House meets. Mr. Snowdcn's recent statement emphasising the complete independence of the Bank of Liigland from the Government is generally regarded as the month's solitary bright financial event, but there are persistent rumors that the worst has not yet come, and the bank rate may be raised another g per cent., though there are no outstanding features for the fortnight.
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17081, 14 October 1929, Page 7
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180BRITISH FINANCE Poverty Bay Herald, Volume LV, Issue 17081, 14 October 1929, Page 7
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