FINANCIAL DEPRESSION.
READY MONEY SCARE.
LONDON, Saturday.
Prom the city’s viewpoint the present month is the dreariest for many years, all causes conbining to discourage investment activity. Although the first rumours regarding the extent of the Hatry group losses may now definitely be d'sere cited, it is apparent that the financial complications resulting therefrom will bo oven more complex than originally expected.
Meanwhile the bank rate makes borrowing practically out of tho question for speculators dealing on small margins. Other causes of the depression are the general exhaustion of ready money following the end of the holiday season, also tho continued uncertainty regarding the Government’s financial intentions.
Mr Snowden’s recent statement emphasising the complete independence of the Bank of England from tho Government is generally regarded as the month’s solitary bright financial event, but there are persistent rumours that the worst has not yet come and that the bank rate may be raised, a half per cent,—A. and N.Z. P.A.—U.S.
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Wairarapa Daily Times, 14 October 1929, Page 5
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160FINANCIAL DEPRESSION. Wairarapa Daily Times, 14 October 1929, Page 5
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