GOLD FLUCTUATIONS
-PresB A«sn.
Rumours and Panics Continue FRENCH PROBLEMS t _ ■■ **
(By Teleeraph-
— Copyright.)
(Eeceived 10, ll.dU a.m.; LONDON, April 9. - Francs were freely offered 108i to the £. A story is cnrrent in the City* that they will be devalued to 112 to the £j simultaneously President Eoosevelt will raise the value of the dollar to the legal maximum by modestly cutting the gold price to 35.35 dollars a ounce, enahling a return to the old sterling parity of 4.86. The equivalent London price of gold will then be around £7 1/-. The liquidation of gold shares assumed panie proportions. The largest calls were sustained by companies at present in the development stage. Other markets are dull. A Paris message says that the Minister of Finance, M. Vicent Auriol, conferred with the Exehange Equalisation Committee, after which he denied reports that France would allow fhe" franc to fall below the legal limit of 111 to the £. He also denied that modification of the three-Power agreement was imminent and declared that there was no reason 'for disquiet owing to the exchange fluctuations, concerning which the equalisation fund would take appropriate measuers.
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Hawke's Bay Herald-Tribune, Issue 71, 10 April 1937, Page 5
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190GOLD FLUCTUATIONS Hawke's Bay Herald-Tribune, Issue 71, 10 April 1937, Page 5
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