UNITED STATES GOLD.

New Zealand Herald, Volume LXI, Issue 18888, 10 December 1924, Page 8

UNITED STATES GOLD.

INVESTMENT EMISSARY.

SEEKING DOMINION FIELD.

[BY TELEGRAPH.—OWN CORRESL'OXPKNT.

WELLINGTON. Tuesday.

One of the results of the United States of America having secured a very large share of the gold of the world was made manifest to-day in the shape of a letter received by the Mayor of Wellington, Mr. R. A. Wright, from the agent of the New Zealand Customs Department in 'New York, Mr. W. G. Stevenson, introducing Mr. Birch Helms, the representative of a New York company, whose mission is to inspect the Dominion, as a new field for the investment of American capital. Mr. Stevenson also informed Mr. Wright that the firm in question recently floated a loan of £18,000,000 to Canada. v

The particular form of investment sought by the firm is indicated as Government or local body bonds.

Ten years ago, such a thing as a visit to New Zealand by a financial emissary from the United States would have been considered an extraordinary event, but to-day the United States is forced into seeking outside avenues for the investment of her overplus gold. The large loan to the Queensland Government two years ago was probably the first occasion on which it became evident that America looked favourably on the British Dominions overseas as a good security for her money.