Some City Circles Fear Further Restriction London, May 18.
'The recent sharp curtailment of the volume of credit' available in the London money market, resulting from the huge purchases of francs last week, is arousing considerable discussion in the City.
"The authorities-have already been purchasing bills from discount houses to replenish credit supplies, but, as the French repatriation of tunds has lately slowed down, some circles hold the opinion that the present tightness will prove only temporary, especially as the position must be helped by a heavy reflux of British bank notes irom France.
Other interests point out that even tighter conditions may be witnessed, if' the terms of: the forthcoming French Defence Loan prove attractive and are reinforced by decrees containing sound measures aimed at increasing French industrial production,
Text read from the printed page and cleaned; old type leaves the occasional error.