THE BULLION MARKET
ELABORATE HOAX IN BOMBAY FALSE GAZETTE ISSUED LONDON, October 21. The Bombay correspondent of The Times saye that the bullion market was subjected to the most elaborate hoax in the city's history, presumably aimed at causing fluctuation for the benefit of the perpetrators. By the first post, the managers of four local banks and other prominent business men, including brokers, received a letter purporting to be signed by an official of the Government's Commerce Department, accompanied by copies of notices, drawn up to appear as an official Gazette, announcing a 10 per cent, duty on the export of gold, and simultaneously abolishing the duty on the export of silver. The bank managers communicated with the manager of the Bcserve Bank, but neither he nor the Customs had received any information. Nevertheless, the rumour spread to the market, forcing down the price of gold by 12s an ounce, and rocketing up* silver before the Government's denial arrived. It is estimated that traders lost £IOO,OOO.
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Otago Daily Times, Issue 22709, 23 October 1935, Page 9
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166THE BULLION MARKET Otago Daily Times, Issue 22709, 23 October 1935, Page 9
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