INVESTORS NERVOUS'
ARMS RACE PROSPECT COPPER AND LEAD RISE (Reed March 17, 10 a.m.) LONDON, March 16. So great was the consternation in the City when the Stock Exchange opened this morning, as a result of the prospective arms race, that it became difficult to deal with the large amounts of Government stocks. The state of nervousness, however, was less noticeable in the afternoon, when banks and other institutions supported gilt-edged stocks.
Industrial stocks were also subject to selling as fears in the City made further inroads. As a contrast with the Stock Exchange, the metal exchanges enjoyed u brisk business. Copper, tin, lead and spelter all rose sharply on the prospect of a heavy armament demand.
Although gilt-edgeds finished lower the market sentiment had slightly improved at the close. American shares were in especial demand. Industrials, notably engineering shares, were firmer. European bonds continued to slump, but dealings were difficult to arrange.
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Poverty Bay Herald, Volume LXV, Issue 19585, 17 March 1938, Page 5
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153INVESTORS NERVOUS' Poverty Bay Herald, Volume LXV, Issue 19585, 17 March 1938, Page 5
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