TRANSFER OF GOLD
NEW YORK TO LONDON
MOVEIM ENT EXPLAIN ED
(UNITEP PHESS ASSOCIATION—BY ELECT Ii 10 TELEGRAPH—COPYRIGHT.) (AUSTRALIAN PRESS ASSOCIATION.)
NEW YORK, May 28. _ Despite- announcement of fifteen million dollars more, gold engaged for export to London, with, the intimation that subsequent withdrawals would be considerably greater, sterling exchange held firmly around 488 3-8 for cable transfers. In some banking circles it was said that the movement of gold from New York to London might reach a hundred million dollars in eonneetion with the plan for the fusion of British currency offering.
In a statistical analysis by the L. F. Rothschild Company, the National City Bank of New York lays claim to be the largest banking institution in the world from the standpoint of capital surplus and undivided profits, the recent capita! increase involving a total of sixty million dollars, of which fifteen millions accrue, to the bank’s capital and increases this item to ninety million dollars.
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https://paperspast.natlib.govt.nz/newspapers/HAWST19280530.2.36
Bibliographic details
Hawera Star, Volume XLVII, 30 May 1928, Page 7
Word Count
158TRANSFER OF GOLD Hawera Star, Volume XLVII, 30 May 1928, Page 7
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