WORLD FINANCE

Greymouth Evening Star, 9 April 1932, Page 7

WORLD FINANCE

FRENCH ATTACK ON DOLLAR,

[BY CABLE—PRESS ASSN. —COPYRIGHT.]

NEW YORK, April 7.

The French quotation to-day touched an exchange rate of 395 J and closed at 394 g. This is well above the gold point. Therefore shipments of gold from America to France will be renewed to-morrow when approximately seven million dollars are scheduled to be embarked. This will be the first gold shipment for several months from America.

What, apparently, has been another foreign attack on the dollar, reached its climax in Paris to-day. A newspaper there published a report that the National City Bank of New York had suspended payments. The institution officially and rigorously denied it as being absurd and filed a protest with the State Department’ at Washington, where it is expected, an investigation will be made to determine if the dollar attacks have been inspired by the Government or by speculators.

BRITISH LOANS.

RUGBY. April 8

'Questioned in the House of Commons as to the date by which it would be found possible to repay the remaining balances of the credits obtained last autumn by the British Treasury from France and the United States, Major Elliott, Financial Secretary to the Treasury, said that since the repayments made as at the end of last month, the remaining part of the American credit namely 20,000,000 dollars, had been repaid. The right to re-borrow had been retained until the anniversary of the original credit, August 28. There .now remained outstanding only the loan of 2,500,000,000 francs from the French public, which was not repayable before the date of maturity in September.