GREAT BRITAIN: Pepper Pother

Gilt-edged securities on the London Stock Exchange took a bad tumble last week. Wincing under a rattling barrage of bad news, British businessmen and bankers were jittery for the first time in three years. Peanuts started it by sinking one of the biggest commodity houses on the venerable Baltic Exchange. Then shellac threatened the City (financial district), until the distressed shellac manipulators were rescued behind locked doors. There was a sharp break in Australian gold shares, a break in tin. Last week the century-old Bradford house of Francis Willey & Co., world's...