Bonds of the Imperial Japanese Government, which had already dropped some 30 points, dropped ten more points last week to 61. Tokyo City bonds dropped over seven points. Bonds of Daido Denryoku Kabushiki Kaisha (Great Consolidated Electric Power Co. Ltd.) dropped over 13. The yen sank to a value of 35¢, lowest level in history (par: 49.84¢).
The decline began two months ago when Japan went off the gold standard. Last week's drop was the investor's reaction to war. A total of some $390,000,000 worth of Japanese bonds are the major portion of...
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