UNGUARDED BULLION.

Otago Daily Times, Issue 20828, 21 September 1929, Page 15

UNGUARDED BULLION.

MILLIONS OF POUNDS. GOLD CARRIED BY AIR. - ARMED GUARIIS UIWEGESSARY. .Nearly £1,(100,000 worth of gold in bats' was sent m a-single consignment from the Bank of England to France a few weeks ago. It travelled by air, and no ihore'notice was taken of its transmission than it it had been so mubli butter.. " Motor cars belonging to Imperial -Airways called at the Bank of England,, the gold was placed in. them, and they-drove away to Croydon, where the boxes of gold were transferred to aeroplanes. ’ t here is really nothing romantic about handling gola, ' said a bullion . broker, when speaking on the subject. “It is looked upon by brokers as an ordinary commercial proposition, and treated as such When gold arrives or leaves this' country no fuss is made and armed guards are_ not thought of. - Shipments of gold arrive every Tuesday from South Africa. ' and are taken to Rothschild's in the citv, where they are sold. ■ , . ' As the Bank of England-is bound by law to buy gold at £3 17s- 9d: per ounce, ' and to sell it at £3 17s 10Jd per ounce! there is.only l|d for the brokers to ?, a ' n , They,; however, attend at Kothschilds every morning at 11.15 for' the purpose of buying, gold, though it is only on Tuesdays that there is any large quantity .for sale. , g „ “ ? ach , bar of gold,” the broker mid. weighs 400 oz, and, ther are four bars of hm,' boX ’ Ijut no broker would dream thlvi a b r ar of gold unleSs he know f d t; or i h? c t rr l ed tke recoramendauan C i 1 *"kink robbers realisa ' °, f getting rid of gold bars, ‘hV 8 wh , y . tkey-.-do not attempt to raid bulkon gold in transit.” P . In 1924 over £1,500,000 worth of cold was unshipped at London Bridge from g the Sovmt Government steamer The if r’ b T® S J of r gold were taken to the Bank of England by a convoy ,of motor lotrim covered with tarpaulins, upn which were ofbacon dVertlSemellts ° f a 5 0 » uI^brand

• ‘I 1 , do faot think there are many neobla France £200,000 000 the T7t, . When gold |fg Wansit f^° r f - of •*oWearning no interest. That' 6 * said, aeroplanes are no,* - * - hy * he it to France -nd wW ? * d - ln transporting America. "pen it m. sent to m New -York. . t 0 an . American bank'