AMERICA'S TIMELY AID.
A 100,000,000 DOLLAR CREDIT. NEW YORK, March 13. Following conflicting reports for several days. J. P. Morgan and Sons, Ltd., the French Government's financial agents in New York, have announced that they have arranged with several American hankers to "establish in New York for the Bank of France credits totalling at least 100.000,000 dollars, secured by gold in the French Treasury, the time limit to be fixed by the Eank of France. The announcement states that the loan will be used to stabilise the franc, and generally assure French financial improvement. Rumours of this loan caused acceleration of exchange transactions, the franc reaching 4 2-10 th cents, representing a gain of four-tenths of a cent since yesterday. Sterling touched 4 dollars 30 cents, gaining a cent. — (A. and N.Z. Cable.)
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Auckland Star, Volume 55, Issue 63, 14 March 1924, Page 5
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133AMERICA'S TIMELY AID. Auckland Star, Volume 55, Issue 63, 14 March 1924, Page 5
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