Washington, Nov. 8.
The Federal Reserve Board to-day reported a sharp recent decline in gold imports, largely as a result of repatriation of "hot money"—short-term foreign funds invested or banked in the United States.
The announcement was regarded as possibly encouraging because the Administration considers "hot money" as a dangerous menace to financial stability of the United States. Furthermore, it was pointed out, the orderly reverse flow of "hot money" relieves official concern while the reduction of gold inflow eases the strain on Treasury purchases—United Press.
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