GOLD FOR HOLLAND

Horowhenua Chronicle, 15 May 1916, Page 3

GOLD FOR HOLLAND

A lnoveinent which may have some bearing upon the situation, recently cabled, as existing in Holland, its mention by "JJradstreets," New I'orK. .During the week ended February it was announced that a New York institution had engaged 1,500,000d0k. in gold bars for shipment to Holla lu, aJuL it transpired that the same shipper had since November. 1915, so titfully 8,000,000 dollars oi gold to the Netherlands. Also that i.t had ccasioned surprise t'hat Great Britain .ail put no obstacle in the way of the earlier shipments and had in fact specially agreed to the la,test export. Exchange on Holland had been ruling at 45 cents to the Dutch guilder against ihe noiimai parity of 40.2 cents, and although the sale .of bills against the later gold shipments had brought *he rate dmwn to 42 cents, it was said a profit of 3 per cent was shown on (he export of metal. An early report mentions that owing to the action of the Herman -Federal Council, in placing all dealings in foreign exchange under the control of the Riechsba.ik. quotations in New York for exchange on Borfin had risen from 73 13-16 to cents per 4 rcicliemarke. It *33 surmised that the Gorman finamc'al houses had transferred gold to neutral countries. Hollnudi and the Scandinavian kingdoms. it was certainly a tact that offering*! by the usnai operatnrs of drafts on Berlin had been almost suspended, and there was a comparative scarcity of Wis on Germany.