AMERICAN FINANCE
EXPORT OF GOLD.
(Australian Press Association.) .By Cable—Press Assn.—Copyright.)
NEW YORK, May 28. _ The announcement is made that fifteen million dollars worth more of gold has been engaged for export from New York to London, with an intimation that subsequent withdrawals of gold to London would be considerably greater. Despite this, sterling exchange has held firmly around four dollars 88 3-8 cents for cable transfers. In some banking circles it was said that this movement of gold from New York to London might reach one hundred million dollars in connection with a plan for (he fusion of the British currency. Offering a, statistical analysis by L. F. Rothschild and Coy., the National City Bank of New York lays claim to be the largest banking institution in the world from the standpoint of its capital surplus and undivided profits. Its recent capital increase, involving a total of sixty million dollars, of which fifteen millions accrue, to the bank’s capital, increases this item to ninety million dollars.
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Greymouth Evening Star, 30 May 1928, Page 5
Word Count
167AMERICAN FINANCE Greymouth Evening Star, 30 May 1928, Page 5
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