BANK OF ENGLAND’S AID.
RESCUES AUSTRIA.
£4,400,000 CREDIT.
(Sun Special)
LONDON, June 24,
A dramatic decision of the Bank of England To provide a credit of £4,400,000 has averted a probable declaration of Austrian bankruptcy, says the Berlin correspondent of the News-Chroni-cle.
Negotiations between the Austrian Government and French bankers broke down owing to French political demands. Then Sir Robert Kindersley, a director of the Bank of England, unexpectedly announced the bank’s assistance.
Newspapers in Berlin and Vienna welcome this action -as showing that British finance is prepared to apply its vast resources to the restoration of European finance.
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Bibliographic details
Horowhenua Chronicle, 26 June 1931, Page 5
Word Count
99BANK OF ENGLAND’S AID. Horowhenua Chronicle, 26 June 1931, Page 5
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