A MISCONCEPTION?
U.S. DEBT REPAYMENT SURPRISE IN LONDON LONDON, Oct. 22. Though all tho evening papers featured tho New York report that the Bank of England had ropaicl £20,000,000 of the loan raised on August I, no official confirmation that repayment was made lias been made here. The New York report caused sometiling of a sensation in the city. Bankers wero at first surprised and mystified and then realised that the report was due to a misconception of tho fact that the American Federal Bank’s holding of foreign currency is being reduced to the extent of £19,200,000. The Daily Telegraph’s City editor says there is no reason why the Bank of England should forestall the due date of repayment in New York when £25,000,000 is due to Pans at the same time.
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17607, 24 October 1931, Page 5
Word Count
132A MISCONCEPTION? Poverty Bay Herald, Volume LV, Issue 17607, 24 October 1931, Page 5
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