£4,000,000 FOR LONDON
SENT BY COMMONWEALTH BANK BRITISH GOLD RESERVE SYDNEY. Wednesday. Sir Robert Gibson, chairman of the Commonwealth Bank of Australia, announces that an additional £4,000,000 in gold is to be shipped to the Bank of England, where it can be usefully employed. It will also relieve the shortage qf Australian credit in London A shipment to London of £1,000,000 in gold was made by the Commonwealth Bank at the end of August, and it was then stated that a similar amount had been sent a few weeks previously. These consignments are, of course, in addition to the normal export of new gold production. At June 30, the Commonwealth Bank held £22,651,500 in gold coin and bullion against a note circulation of £42,758,226.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19291031.2.95
Bibliographic details
Sun (Auckland), Volume III, Issue 808, 31 October 1929, Page 9
Word Count
124£4,000,000 FOR LONDON Sun (Auckland), Volume III, Issue 808, 31 October 1929, Page 9
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