London, May 6.
The City welcomed the broadcast announcement yesterday of M. Eduard ihe French Premier, con-ug the stabilization of the franc, and some circles described the new policy as most businesslike.
Moreover, as the French Premier had promised to support Great Britain and the United States, many ventured to prophesy that, at long last, a real change in the fortune of France would be witnessed.
Well-informed quarters applauded the Premier's decision to allow the frane to fall to a level at which it could be easily defended, instead of holding the rate as a target for repeated bear attacks.
Text read from the printed page and cleaned; old type leaves the occasional error.