International Conference of Bankers on What is to be Done With it New York, July 8.
The huge stocks of gold held in America gre among the subjects which are being discussed at a conference now sitting in Washington of leading European and American bankers, including the Governor of the Bank of England, Mr, Montagu Norman: Dr, Schachi, who represents Germany: Mr. 'Strong, Gov-jemer of the Federal Reserve' Bank, and M. Rist, representing France.
Tt is understood that the agenda includes the question of depositing portion of the huge stocks of gold held by the Federal Reserve Bank in the United States with the Bank Jot England, in mndon, the Banque of France in Paris and other Eurpean banks of issue, 7
'The "New York Times" predicts that an outcome of the' conference will be the restoration of a gold standard in France and the stabilizajon of the frane in consequence. Later.
In_an oficial commoniqué issued to-night, with regard to the Bankers Conference, the New York Federal Reserve' Bank declared that there reparation question nor the stabilization of the franc.
The communique adds that the Conference, so far, has devoted itself mainly to an exchange of views with regard to financial and economic matters, the policies of banks of issue and similar subjects, naturally including the operation of the s0- fealled gold exchange standard, the expense entailed in shipping gold, the purchasing power of gold and [various proposals to promote closer
Text read from the printed page and cleaned; old type leaves the occasional error.