MOVEMENTS OF GOLD.
DISCUS- " SIONS.
POLICY OF FINANCIAL 1 CO-OPERATION. " '(BBITISB- /OtriCliXt WIfiBLISS.) Fejbtuary' ,25th; 5.5 p.m.)
. -RUGBY, February 24. . An official, statement on the recent .discussions, between the .British , and French Treasury experts, says:— The object has been ..a* frank and cordial exchange of views on the.' principal financial questions of interest to both with , a, to promoting a policy of fittxancial co-opera-tion in the world-wide depression. The underlying causes of the exceptional: gold indvements between Lpndon arid Paris have been discussed. It! has been confirmed' thtlt> the French, authorities in no way .welcome abnormal' gold movements, and have been anxious, so, faras: ;to avoid •measures tending to bring them about.; The French Treasury, while not- considering that themethods or managing public funds in Franco have harf 'the influence .'sometimes., attributed to them, has, nevertheless readily stated >ts intention of taking into account, consistent with its own needs, the repercussions which its operations might have on the monetary market. It was agreed that the two Treasuries should keep in touch on questions arising from the reports of the gold delegation of the League of Nations. It was also agreed that cardinal importance was attached to the resumption of foreign lending on ab normal I scale by. ; the creditor countries and I the French authorities have, on : many , occasions, made known their desire to [ encourage foreign spending .on the Paris market, but it iB. recognised that , the present credit difficulties are largely due to the lack of confidence of the '•investors ao9 that it is essential that the- borrowing countries should , themselves take all possibles measures ,to restore confidence; Steps to promote effective co-operation between this markets with a view .to loan operations would contribute towards alleviating the 'existing depression* and all possibilities should be examined.. The"'statement refers to-the discussions at the League of-Nations with a', view to facilitating agricultural credits in Central and Eastern Europe and 'expressed the hope ithat practical results' mav be ■ realised at an .oarlj date'. It added that the conversations liaV« • 1 not aimed at definite interprovincial -agreements.; but-, have enabled contact 'to bfe established on questions affecting 1 the financial and economic interests of both countries, which will be maintained and the conversations will : be renewed as circumstances require, - ■
WINE INDUSTRY OP, ' ONTARIO.
COMPETITION FROM AUSTRALIA H-S ' itetflMlT W:V"<s<&*tO«V-*T- * KCKCTItM Ta\ , COPipGHT.I • , , > , •<■ OXajAWA, '* A' xness&gG; jr<?ni.'/Tpronto, 1 sta;tfiss« that. protests jagainst -,tb<j*„.|n;flßont" system ~of' gelling Canadian wine; on liquor perpits,. aba fears gt the/#)itfp<!titton of Australian, wine and gfrape rjuicej were voiced befote-the AgricttltturaJ Committee V>f'the Ontario Legislature 'on' dWy.Vby the Ontario grape-growers, "ThrTedubtion ,*>£' duly, under tWtefpia of; t<tfaty,on Au«tyVduty: on Australian grapes, would work to tie disadvantage of the'grapegrowerg, .the delegation declared. 'fICW removal restriction on th,eju#e of > fruit extrdctSMttjl the„nmnufacof pntario ;wine were advocated,; it ; being' stated that"Australian wine was', made with' fruit extracts, and had a nhigh < alcoholic «ontsntir > !l|he Ontario producers! had' to. import; large quanti,'tiw.of augaf. „ The Extensive impprta.tiq'n fif ; jgrajpes from Australia Wouldi bo %bUol6tely : disa¥troU# /J to {the -Niagara '< Itwasjattyed .that r two. advocated woro .-the main* of protective duties and adr^rtiirtttg> and propaganda to'; develop' 'Canadian markets. . ', ~ , . RISE IN, VALUES. YORK STOCK EXCHANGE: .' 't 1 , CONITJSJ) PRESS ASSOCIATION—BT BLUCTBIC - ' T*MOB ASH—OOPTWOBT.) '• NE\V YORK, February 24. . Following a week of steady gains ,on' the stock market, apparently as 'the result of a slight" improvement in the business conditions of the country, to-day there began a series of sensational/rises that,, despite pressure, from "profit-taking, carried the. leading issues np.frpm one to seven points. Approximately 8,000,000 shares were sold •and billions of dollars in paper values were 1 added. J FOREIGN EXCHANGES. (aivnss OWICUL WlttUW ) (Received February 25th, 5.6 p.m.) RUGBY, February 24. Tlx* following are the current rate* of exchange, compared; with those of .February mh, and .par:-*- - p ar . Peb . 19 . Feb. 24. Pari., fr. to £1 .. 124.21 123 91J 1.23.934 BrugaeU; belgaa to £1 35 34.844 So.m Oalo, kr. to £1 , ' 18.169 1f.164 18.93 Copenhagen, kr. to ill 18.159 18.16.J 'Stockholm, kr to £1 38.159 18.14|. 18.1 a Amsterdam, fl. to £1 12.107 12.101 12.U Bet te*if lmlfttkon .. 29.43 20.43J 20.431 Montreal, dol. to &l< ,4.866 4-835^i 85 29"®? *few York, dol. to £1 4.866 4.8511-16 4.8^ Prnmie kr. to £i .. 164.25 1644 . 164 Genera fr to £1 .. 25.25 25.18 25.21 Milan, .'lire to £1 .. 93.43 fj'jjSf Vienna, schgs. to fl 34.680 34.574 84.574, HeWngforc.inarketo Madrid, pesetas - to. Lisbon, esondos to 10g23 Athena, drach to £1 375 375 37ff Bucharest, lei to £1 813.6 , 817 817 Si?:""" <.m. 4,m « F* "T. «m 801 SM .Montevideo, 'pence to. , ' - "d 01.;.. ol 34* sa T" *°.J» in Btag.i, p.»~ MJ ]S] Ul Honst-Kong, pence to , ■ dol. J. ■■ 21 305 JHi Yokohama, tranc® to < yen ./ .. MM 124 13-32 2413-32 . SILVER. '(1B1TI8B arrjaut, wir*c.ms.J ■ ■* • HTJGBY, February 24. Quotationa for- silver ere;.—Spot; 1 1241-K3d M ft.i6d * oar ounce.
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Press, Volume LXVII, Issue 20172, 26 February 1931, Page 12
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807MOVEMENTS OF GOLD. Press, Volume LXVII, Issue 20172, 26 February 1931, Page 12
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