DECLINE IN STERLING

Feilding Star, Volume 8, Issue 2586, 2 December 1931, Page 6

DECLINE IN STERLING

Also Canadian Dollar LOW POINT IN TNOTED STATES A STATE OF NERVOUSNESS (Alist, and N.Z. Cabla) New York, November 30. British currencies declined sharply on foreign exchanges to-day. the pound sterling being quoted at 3 dollars 40 cents for cable transfer — 12* cents ower than Saturday s closing quotation., and tlie lowest since the suspension of the goJd standard. The Canadian dollar dropped to 84 3-8 cents —2 3-8 cents lower tha*> Saturday’s closing quotation. The weakness of the pound is attributed to England's foreign trade position, the general nervousness over the European situation and the outcome of the Franco-German negotiations.

PROSPECTING TRAGEDY ON AP R ICA N GOLDIM ELD ON E MAN I ) IS APPEL\ 11S A tragic story of the latest African gold rush, eulmina-tie,g in the deaf: U of one in on and the disappearance of another ,reached Nairobi. Kenya, a lew weeks ago. When, the first news of the discovery of a reef was learned at Nairobi three men—two farmers anti a former Nigeria", railway engineer—set out in a ear for South. Kavi rondo, on the borders of Tanganyika, where they thought a reef might exist. Alter some days the two men returned to where they lwjr left their oar and. thior companion, only to find that both had disappeared. Nothing had hoc" left for them except one shot-gun. There was no food* hut the stranded pa,id decided to walk the 100 miles of uninhabited and trackless wilds that separated them from the nearest civilised place— Misu. They arrived safely and then decided to push on to Kisuinu, where op.p of them died oil arrival. Nothing wives known of the third man's fate. According tin another message the man who vanished in the bush was Dr. Charles Hiokey. a coffee planter, while the man who dic'd At Kisuinu Ca.qtai" Kenneth*-Savage, whose wife a.nd familv Jive at Croydon, London.