3 MAY 1930, Page 41


All the same, I am inclined to think that this dulness in New York is the best guarantee of a continuance of cheap money and if continued may result in a lower Bank Rate in New York, which would lead to hopes of a possible lower rate here. In fact, while I am .inclined to take a decidedly cautious view and, perhaps, even a rather pessimistic view with regard to .autumn conditions, it would not be surprising if expectations of cheap money for the spring and summer months were to be fulfilled and that as a consequence investment stocks might tend to recover from their present depression,

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