ADVANCE TO AUSTRIA

Evening Post, Volume CXI, Issue 144, 20 June 1931, Page 13

ADVANCE TO AUSTRIA

BANK OF ENGLAND LOAN

HELP APPRECIATED

(British Official Wireless.)

RTJGBT, 18th Jttne. The news that the Bank of Einjjland has made an interim advance of 150,----000,000 shillings (nearly £4,5(K!>,000) to the Austrian National Bank, pending the completion of negotiations for an international loan <to the Austrian Government to provide the necessary funds to guarantee tho liabilities of tho Credit Anstalt, was received in Vienna . with an expression of keen satisfaction.

The promptitude of the . B»nk of England's action is warmly agrpiovcd in British financial circles.

Tho City Editor of the "vEvening News" aays that since the war the Bank of England consistently has pursued a policy designed to pronnote gen-t eral world stability, under the. conviction that world monetary comditions aro now so bound up togettter that every industrial country dcpeiuds for its prosperity on1 tho mcasur.-e* of general stability.

The bank's entry into the present Austrian complication after sjppeals by the Austrian authorities i 3 aiejtuated by this motive. ' J ■

Tho City Editor of the "Evening Standard," commenting ooi tlie more assured feeling in the markets, says that it is reported from German financial circles that some mowey already has returned to Germany.

He qdds: "The most important factor leading to greater ccwifidence in Germany is the help which, the Bank of England is giving Austria. Credit granted to Austria should be a--means of restoring stability in that country, and increasing confidence ■ throughout Central Europe." ; '

A feature of the foreign money market in London to-day, wast a sharp recovery in German bonds.