GOLD HOLDING
REVALUED IN. FRANCE SUBSTANTIAL PROFIT SHOWN. FOREIGN PURCHASES FUND: By; Telegraph—Press Association —Copyright. (Received This Day; 11.4-0-anTf;)-PARIS; March 1. A" new'agreement between-the Trea-sury'and-the-Bank of'France provides for the - revaluation of- the gold' stock. This' is- unofficially estimated' th' show a profit of 14,G00- million francs,- whichwill bo-used' partly- to- repay’ outstanding': loans- to the State; amounting-to 20,473-millions, the balance of which will" be- met-- by- a- transfer- from - the Stabilisation- Fund. The Bank will sell 'to' the-State-30,000 -millions of- gold against ■ Treasury' bonds.- This will constitute a-secret foreign purchases-fund. The limit Of- the'-Bank's-war- time- advanced to the State- has- been- raisedfrom twenty-five to- forty-five thousand millions-; HOLLAND ALSO GAIN'-OF"£28,00'0.000 IN BOOK VALUE. (Received' This' Day? nbbh.) THE. HAGUE'; March' 1. Parliament has-,authorised the revaluation of the Netherlands Bank gold on the basis of the depreciation of the florin by-- eighteen per cent, giving' a' £28,000,000 gain-in-book value.
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Wairarapa Times-Age, 2 March 1940, Page 6
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148GOLD HOLDING Wairarapa Times-Age, 2 March 1940, Page 6
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