BANKING BUSINESS.
REPORT OF FEDERAL RESERVE BOARD. United Press Association—T3y Electric Telegraph—Copyright (Received March 5, 7.0 p.m.) WASHINGTON, March 4. The Federal Reserve Board’s annual report to Congress indicated that at * the close of 1930, the American monetary stocks of gold amounted to 4590 million dollars, which is within 100 million dollars of the peak figure of May, 1927, and marking an increase of 310 million dollars during the year. Describing the resumption of the flow of gold to the United States, early in 1930, the report stated that “in general, the movement was one from the outlying countries producing raw materials to the finance centres,” and the reflected decline in value of their products and conditions unfavourable to the flotation of loans in the United States.
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Bibliographic details
Timaru Herald, Volume CXXXIV, Issue 18819, 6 March 1931, Page 9
Word Count
127BANKING BUSINESS. Timaru Herald, Volume CXXXIV, Issue 18819, 6 March 1931, Page 9
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