FINANCIAL CHANGE.

Pahiatua Herald, 29 September 1936, Page 6

FINANCIAL CHANGE.

MORE LEAVE GOLD BLOC. REPERCUSSIONS OF FRENCH ACTION. (Received 12.30 pm.) United Press Assn.—By Electric Telegraph—Copyright. LONDON, Sept. 28. Exchanges: New York 4.94; Paris and Batavia are net quoted. To-days prices of gold are the highest since May when it was £7 Os lOd per ounce. Samuel and Montagu, bullion dealers explain that both Friday and to-day the price of sterling and the price of gold were fixed on the basis, of the American exchange. As the value of the pound to-day had fallen twelve cents gold, expressed in terms of sterling, had risen to a corresponding extent. LATVIA LEAVES GOLD RIGA, Sept. 28. Latvia has decided to abandon gold and join the sterling bloc on September 29. ITALIAN BOURSE CLOSES ROME. Sept. 28. The authorities have ordered the Italian bourses, to close until Thursday. SWISS PRECAUTIONS BERNE. Sept. 28. The Government is inaugurating a stabilisation fund from the profits of 650,000,000 francs due to their depreciation. * QUERIES FOR FRENCH MINISTER, PARTS. September 28. The Chamber of Deputies, after receipt of copies of the Gold Bill adjourned on the demand of the Radical Socialists, who demanded that M. Aurio-i should appear at a meeting of their Parliamentary group to explain the sliding, scale of wages, the readjustment of civil service salaries and the removal of cuts in warn pensions. GREECE LEAVES FRANC. ATHENS, Sept. 28. The Government, has decided to align the drachma with sterling instead of the franc. HOLLAND SATISFIED. AMSTERDAM, Sept. 28, Owing to tile satisfactory reaction of the monetary measures, stock exchanges are re-opening To-morrow. ACTIVITY IN S. AFRICA. JOHANNESBURG, Sept. 28. There were animated scenes on the stock exchange with heavy buving of gold shares, even non-producers’ shares advancing. FUNDS RETURN TO FRANCE (Received 12.30 p.m.) LONDON, September 28. The effects of the monetary deval- ’ in were much mere pronounced in the city hi the afternoon, and funds were swiftly flowing back to France, resulting in substantial falls io English and French issues including gold mines. Goild was unofficially quoted during the afternoon at £7 0s lOd per ounce. The Bank of England has purchased £272,114 worth of bar gold. The bullion market report states that 427 baro of gold, valued at £l,200.(XX) have been. scld. FRENCH GOVERNMENT VICTORY. PARIS. September 28. The Government won the first bout in the Chamber by 365 votes to 245. thus rejecting the Right Wing motion to refer the Gold Bill hack to the Finance Commission which made the vote of confidence. AFFECT ON THE LEAGUE. GENEVA, September- 28. The Associated Press says so. complicated will be the effects of the revaluation of currencies on the League that the Fourth Committee decided to refer the Budget back to the Permanent Commission which is supervising its expenditure.