FOREIGN CREDITS.

Auckland Star, Volume LXII, Issue 259, 2 November 1931, Page 7

FOREIGN CREDITS.

Repayimeiits by Batik of England To Paris and America.

A FURTHER EXTENSION.

.: '- (British Official Wireless.) -.: .. (Received 12.30 p.m.) •■. . •'' ' , RUGBY, November 1. Tie repayment of £20,000,000 of the £50,000,000 borrowed in-equal portions - on August 1 from the Bank of France ; «nd the Federal. Reserve Bank of New York, was announced by the Barik of ..'England on Friday night. The. credits :: expire tq-day, and at the request of the ' Hank' of England an extension for a further period of three months, of approximately the equivalent in each case e{,£lQ,ooo,ooo has been agreed upon. • provision of the balance, of which.; repayment is proposed by the .-Bank of England by the sale of £15,000,,000 in gold, has been arranged. These eredite were given at the time of the gold drain from London during the p summer, and were used to help to in sterling.

INCREASED ACTIVITY. Less Unemployed Recorded in v> .'•/ ;•:';■, Britain. INDUSTRIAL REVIVAL. LONDON, November 1. -r Report* from many parts of the coun-K-try. afford striking evidence that the v .revival o f Britain's tiWfle and industry ■; ; ] s continuing. This is particularly the ■:■■.;• «ase invthe North of England, wljfre has fallen by 61,000, or 10 per cent, in six weeks. ■One of the most cheerful signs is the {.-. demand for new sites for factories from i- ; to% foreign and British firms. The % h !t y of, Birmingham's Information \i\- *Weau is iij communication with i 4 u Continental and American firms which opening works in that city v "' • applications ' for sites have ;: from France, Germany and I■ • ;and tentative inquiries from weden,- Belgium and the United States. - r ■'