e-lected Governor of the Banc of My, Montagu Norman was to-d
Ergland for the eleventh year in ection is ie The "Tngeat of the Bank, ure of the posting
Apr, 22.
Repercussions likely to affect the financial markets of the world are predicted as liable to arise from the Teeently paid to the United States by Mr. Montaga Norman.
Mr, Normaa, himself, maintains the closest secrecy' with regard to the possible outcome. of his recent conferences with leading American financiers. It is believed,' however, that while. in' America' he discussed with the financial authorities. there plans for the formation of a World ade [Credit Bank to finance coun tries whose purchasing power has fallen heavily through the slutty? in commodity values.
Tf the plan for the formation of Ss, Ben fe ces of the greatest Importance in' ing @ Yeturn of world. prosperity.
is. thought [possible that Me. Norman will announce the details fof the plan ab the forthcoming annual meeting' of the shareholders of the Bank of International Settle~ ments at Basle, Switzerland.
ts understood that Ttussia would participate in the credits. gram bythe: World Trade Credit, Bank if the latter is formed.—Reuter.
New York, Apr. 24.
'The idea that stocks of gold and Jeapital must be regarded as a com mon pool to be drawn on for' the needs of the whole. world is accord: ting to the *New York Times," one the points Mr. Montague' Nor-Tan "has "been advocating dur ing his recent visit to the' United States.
Meanwhile the enormous gold stocks of the United States. will be further. swollen by. the. impending despatch of $13,000,000 from France America, de recent Federal Reserve authorities to check the influx of gold, Washington suggests that this latest importa tion ig connected with the flight of capital from Spain, Apr, 21.
There is more monetary gold in ithe United States to-day than at amy. time in ity story he vaults of the Banks hold about 43 per cent, the monetary gold in the which is more than twice in France and seven amount in Great Britain—Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.