Pound Crash Triggers Global Market Turmoil
London suffers a 30.5 percent dollar devaluation of the pound as banks and the London Stock Exchange close. Nations across Europe and Asia slash currencies, fear spreads of bankruptcy and unemployment, while Sir Stafford Cripps urges higher dollar earnings to restore economic stability by 1952.
MENTIONED IN THIS ARTICLE
London
London Stock Exchange
France
Holand
Greece
South Africa
Europe
Storn
Asia
Britain
America
Treasury
Stick Exchange
Stafford Cripps
Cripps
Stock Exchange
Associated Press
Radi
Landon
London Street Trading Surges After Devaluation
Wild trading erupts on London streets as devaluation shocks hit the financial district. Brokers, jobbers, and clerks shout prices, with quotes often diverging by far across 20 yards. Imperial Chemicals, Woolworth, Dunlop, British Celanese jump amid volatile deals while Rubber and tin rally. dealers scramble to record rapid changes.
MENTIONED IN THIS ARTICLE
London
Stock Exchange
Throg, Morton ‘St
Epa
Imperial Chemicals
Woolworth’s
Dunlops
Celanese
New York Exchange Closes Slightly Lower After British Devaluation
New York traders reacted calmly to Britain devaluing the pound with a small market dip at opening. The session saw selling ease, a recovery attempt, and turnover near 1.9 million shares as prices slipped fractions to a point or more before steadying.
MENTIONED IN THIS ARTICLE
New York
Jast
Devaluation ripple hits Britain common man
The British pound devalued, reducing purchasing power for a "common man" like Sears the janitor. He notes his weekly five pound wage remains the same, but prices for bread and flour will rise about 30 percent in a couple of weeks. Prices on many imported goods will climb, potentially triggering wage demands and inflation concerns.
MENTIONED IN THIS ARTICLE
Jondon
Sears
Was
Worth
Britain
United States
South
America
Pound Devaluation Explained by Associated Press
Britons gamble on sales as the pound falls from 4.03 to 2.80 dollars, hoping foreign buyers will boost earnings while American goods will cost more to Britons. Prices rise for bread and U.S. imports, with subsidies not raised to offset costs. If cheaper dollar goods do not lift sales, the devaluation won’t fix Britain’s dollar shortage.
MENTIONED IN THIS ARTICLE
Sir Stafford
Cripps
Britain
Associated Press
Stafford Cripps
United States
Hintons
Train crash near Newton kills one and injures fifty
A Southern Railway passenger train jumped the track near Newton North Carolina at about 9 10 a m. One man died and about 50 people were injured as six cars and the locomotive plunged down an embankment. Ambulances rushed victims to Catawba General Hospital.
MENTIONED IN THIS ARTICLE
Newton
UPA Southern
Charlotte
Catawba_General Hospital
Fatal French Plane Crash Reported Near Pointe Noire
A French military Halifax crashed on approach to Pointe Noire Airport, 300 miles west on the Atlantic coast. Early word says all aboard were killed, including Dr G J Stefanopoulos of the Pasteur Institute in Paris, chief of the yellow fever division.
MENTIONED IN THIS ARTICLE
Brazzaville
West Africa
Pointe Noire
Atlantic
Halifax
James
G. J.stefanopoulos
Pasteur Institute
Paris
Swimmers Eye English Channel Feat in 24 Hours
A teletyped update notes a planned English Channel swim by a team or individual, aiming to complete the crossing within 24 hours and seeking a key defense or support stance. The fragment hints at an Olympic or postwar athletics context with emphasis on endurance and timekeeping.
No Payments No Work by Lewis Miners Shuts Mines
Pittsburgh dispatch reports John L. Lewis diggers strike over pensions no work order prompting walkouts across coal fields. West Virginia Pennsylvania and other states see 120000 plus miners refuse to work as welfare fund payments are cut. Roaming pickets dump coal and roving caravans target non union operators.
MENTIONED IN THIS ARTICLE
Pittsburgh
John L. Lewis
West Virginia
United Mine Worker
Lewis
Mississippi
U. MW
Pennsylvania
Pennsylvania‘ Coal Operators Association
Cen
Five Hungarians admit parts in Tito plot
Five more defendants pleaded guilty before the People's Court in Budapest to plotting against Hungary and the Soviet Union. They acknowledged involvement in a Tito backed plot, with no coercion claimed, following earlier confessions by other defendants.
MENTIONED IN THIS ARTICLE
Budapest
Hungary
Soviet Union
Marshal
Tito
Yugo
Tibor
Szoeny
Communist‘ Party
Andras Szalai
Szoenyi
Divers Still Seek Bodies on Noronic Ship
Divers searched the sunken decks of the Noronic as fire-damaged cabins yielded three more charred remains. Authorities feared the death toll could rise beyond initial counts, with about 84 passengers unaccounted for and many believed to have reached home. Toronto and St. Michael’s Cathedral prepared for mass and interdenominational services as Red Cross officials, volunteers, taxi drivers, and hotels aided survivors and identifications.
MENTIONED IN THIS ARTICLE
Soronto
S. Noronic
Red Cross
Teal Ae
W.S. Stanbury
United States
Ps Wilbe
St. Michael's Cathedral
Toronto
All
Czech Reds Jail Catholic Vicar Arrested in Prague Case
In a Prague area case reported by local papers, authorities detained a Catholic vicar amid a broader graft probe. Officials cited charges linked to church property and illicit financial activities, with questions raised about clerical influence in local governance.
Frank Morgan Hollywood Star Dies in Sleep
Hollywood alum Frank Morgan died in his sleep at 59 after a long career in film, radio, and stage. The actor known for his harried manner and comic timing had just completed a role in The Stratton Story and appeared in favorites like The Great Zinfandel and Green Dolphin Street. His wife Alma survives after 34 years of marriage.
MENTIONED IN THIS ARTICLE
Hollywood
Frank Morgan
Addie
Honolulu
Cromreal
Alma
Morgan
Clark “Gable
Loretta Young
Stratton
Zinffeld
First Mediation Effort in Steel Deadlocks
Washington September 19 government failed in its first mediation of the steel strike as 1,000,000 workers threaten to walk out Saturday unless bargaining begins on pension and insurance benefits. Federal mediator Cyris S. Ching planned separate talks with management and union negotiators, saying the session was exploratory and not discouraging.
MENTIONED IN THIS ARTICLE
Washington
Cyris S. Ching
Ching
Truman
C. I
Philip Murray
U A W Gives Ford 10 Day Strike Notice
Detroit Sept 19 United Auto Workers told Ford Motor Co the union issued the equivalent of a 20 day strike notice unless pension and wage disputes are settled by Sept 29 The union and Ford had over 100 days of negotiations with no settlement of economic or non economic issues challenging the auto industry record for length of talks
MENTIONED IN THIS ARTICLE
Detroit
United Auto Workers
Ford Motor.Co
Fords
Also Mentioned on This Page
Banks
N. Y
By Glenn Williams
Reds
Austria
Falk
Wagton It
Hraday Sete Sie
Russia
Jaca Mursday
STEEL
Cyrus
Ching ‘Center
U. S
Mediation Service
Fot Steelworkers Union
Benjamin Fairless
Associated: Press
Noronic
Czechoslovakia
Hollywood Star
U-A.w
Ford
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