MOVEMENT IN FINANCE

Evening Post, Volume CXVI, Issue 143, 14 December 1933, Page 10

MOVEMENT IN FINANCE

POSITION IN AMERICA

NEW STRENGTH TO DOLLAR

(Received December 14, 2.30 p.m.) WASHINGTON, December 13. With the gold price unchanged the dollar showed new strength on tho London market. The gold price on the London basis opening at a sterling rate of 5 dollars 3J cents to £, was 31 dollars 74 cents. Meanwhile, the goldpurchasing programme was subordinate in immediate interest to tho Budget preparations at the White House and the Treasury, the needs for continuing the public works programme and other relief undertakings requiring a continuous and even mounting outlay during the winter, aggravating the Budget problems. ■

In the foreign exchange market the dollar went to a new high in' the current movement of 65.35 cents in terms of the franc, which, with sterling, dropped. : Commodities weakened as the drop in sterling caused- a setting in rubber and silver and futures in 1 grains and other staples. Wheat was 21 cents lower. United States Government bonds were firm, but the general bond market turned easier, after eleven days rising prices. Stocks sagged irregularly in a dull market.