DOLLAR DOWN

Hokitika Guardian, 9 April 1932, Page 5

DOLLAR DOWN

ATTACK BY FRANCE

AMERICAN GOLD SHIPMENT.

(United Press Association —Bv Electrii Telegraph.—Copyright.)

NEW YORK, April 7

Th.q French have to-day touched on exclifnge rate of 395}- and it closed at 3947 Tins is well above the gold point. Therefore shipments of gold from America to France will be renewed to-morrow, when approximately, seven million dollars are scheduled to be embarked. This will be the first gold shipment for several months from America.

What, apparently has been another foreign attack on the dollar, reached its climax in Paris to-day. A newspaper there published a. report that the National City Bank of New York had suspended payments. The institution officially and rigorously denied it as being absurd, and filed a protest with the State Department at Washington, where it is expected, an investigation iwll be made to determine if the dollar attacks have been inspired by the Government or by speculators.

REPAYMENTS OF CREDITS.

RUGBY, April 8

Questioned in tbe House of Commons as to the date by which it would be found possible to repay the remaining balances of the credits obtained last autumn by tbe British Treasury from France and the United States, Major Elliott, Financial Secretary to tbe Treasury, said that since tbe repayments made as at the end of last month, tbe) remaining : part of the American credit, namely 20,000,000 dollars, had been repaid. The right to re-borrow had been retained until the anniversary of the original credit, August 28. There now remained outstanding only the loan of 2,500,000,000 francs from the French public, which was not repayable before the date of maturity in September.