SHIPMENT OF GOLD
NEW YORK TO LONDON
NEW YOKK, 13th December, ahe announcement that the National Uty Bank will ship between 7,500 000 and 10,000,000 dollars in gold to London to-morrow caused sterling exchange to drop to 4 dollars 87 7-8 cents from 4 dollars^ 88 1-16 cents, representing three-sixteenths of a cent loss since yesterday. Most foreign exchanges have been moving up sympathetically recently. There has been a steady flow of gold from the United States, totalImg 25,000,000 dollars, since Ist December, and 125,000,000 dollars since Ist September.
Dr. Burgess, assistant Federal reserve agent here, stated that the United States was prepared for a considerable gold export movement, and had made provision against such seriously disturbing credit conditions. He described the method by which the Federal reserve was guarded against by gold inflation, and tho methods whereby it was guarded against any ill-effects from a considerable movement of gold abroad. s
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Bibliographic details
Evening Post, Volume CIV, Issue 144, 15 December 1927, Page 7
Word Count
152SHIPMENT OF GOLD Evening Post, Volume CIV, Issue 144, 15 December 1927, Page 7
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