RESERVE BANK GOLD
REDUCTION BY £500,000 NO DETAILS OF TRANSACTION [by telegraph—special reporterl WELLINGTON Friday' "The only answer I can give is that the figures speak for themselves," said Mr. Leslie Lefeaux, governor of the Reserve Bank, to-day, when he was questioned regarding the reduction of £500,000 in the gold reserve at the close of business last Monday. Compared with the figures for the preceding week, this week's statement by the bank showed the gold reserve to lie. £3,851,727, compared with £4,351,727 in the previous week's statement. "I can assure you we have not lost the gold," said Mr. Lefeaux with a smile. "It is difficult to make a statement in the middle of a transaction, so I regret I can give no details as to tho price." It is possible that the details will be revealed later through the Treasury, as section 15 of the Reserve Bank Act provides that any profits that may be derived by the bank from the sale of gold coin and bullion shall be credited to the Public Account. Mr. Lefeaux left Wellington to-night for Christchurch on his first visit to the South Islarfd.
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New Zealand Herald, Volume LXXI, Issue 21924, 6 October 1934, Page 12
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190RESERVE BANK GOLD New Zealand Herald, Volume LXXI, Issue 21924, 6 October 1934, Page 12
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