PEPPER TRADE CRISIS
ASSISTANCE OF BANKS SOUGHT.
ONLY SOUND FIRMS HELPED.
Ey Telegraph—Press Assn.—Copyright. Rec. 8 p.m. London, Feb. 7. The crisis in the pepper market necessitated a five days’ moratorium on all sales while Mincing Lane brokers negotiated with the banks to finance 6500 tons of pepper coming to London necessitating traders finding £2,000,000 before the . week-end. The banks were disinclined to assist firms which had weakened themselves by speculation but were willing to help sound firms who had not over-traded.
Efforts are being made to form a cartel to take over altogether about 25,000 tons of pepper, which are either here or due within a few days, says the Daily Herald.
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Taranaki Daily News, 8 February 1935, Page 5
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113PEPPER TRADE CRISIS Taranaki Daily News, 8 February 1935, Page 5
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