(Incorporated in. PD by £3,000,000 £3,000,000 London, American cotton forwarded to mills of the world since August 1, 1938 (excluding linters) touched the level of 9,933,000 bales, showing an increase of 149,000 bales compared with the previous week, but a decrease of 506,- 000 bales from the same week in 1938.—Reuter, Kobe Statement of Exchange Equalization Account London, June 30.
The twice yearly Treasury statement of gold held in the Exchange Equalization Account shows that on March 31 the Account held 49,490,000 fine ounces and the Issue Department of the Bank of England 30,459,000 ounces. At £7/8/6 an ounce, the total represents about £594,000,000.
At the same date, the account did not hold more than a relatively small amount of foreign currency.
The prices of gold, which was taken at £7 per ounce in previous statements, is taken ae £7/8/6d in the present statement, in consequence of the change introduced in the method of valuing the Bank of England's gold by the Currency and Bank Notes Act of 1939.
On September 30, 1938, the previous date for which the total of combined gold holdings was disclosed, the holding was 98,528,000 ounces valued at £7 an ounce.—Reuter.
Lumpur
Text read from the printed page and cleaned; old type leaves the occasional error.