BRITAIN IN AMERICAN MARKETS
THE DROP IN THE EXCHANGE'RATE LOWEST ON RECORD By Telegraph-Press Association-Copyright New York, August 31. Tho Sterling Exchange is , tlie lowest 5 on record, tie pound reaching 4 dollars 58i cents., or beneatli the point where financiers expect Britain to be driven out of tho American market to purchase war supplies elsewhere. Chaos'prevailed on' the exchange market. : ■ : - - Tile- French i and Hussian exchange rate is also falling. ' British buyers aro now obliged to pay 14d: : premium for every sovereign's worth'of-goods purchased in the United States. France aud Russia pay a similtir ratio. No American contraot for war supplies has yet been cancelled because the exchange. LATEST QUOTATIONS. • (Rec. September 1,10 p.m.)' New York, August 31. The Exchange on London fell to 4dol, 56 cent, (or 29 cents—l4}d.—below tha pre-war rate). .
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Dominion, Volume 8, Issue 2556, 2 September 1915, Page 5
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134BRITAIN IN AMERICAN MARKETS Dominion, Volume 8, Issue 2556, 2 September 1915, Page 5
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