From the Scandinavian side, it would appear that a slightly less realistic view was taken of the situation. For example, the central banks of both Norway and Denmark apparently have shipped less than one-half of their monetary gold reserves to this country for safekeeping. Gold is tempting to an invader, especially if the invader owns little of the metal. Although the gold stocks of these central banks are comparatively small, it is estimated that more than $50,000,000 remained in Oslo and slightly more than $25,000,000 in Copenhagen. No estimates are available on probable private stocks of hoarders. Most of the remaining metallic reserves of these central banks are held under earmark with the Federal Reserve Bank of New York.
The Swedish central bank is believed still to have upward of $100,- 000,000 of gold in its vaults, although Swedish shipments of the metal to the United States were heavy in recent weeks. It is estimated that since last September Sweden has shipped $140,000,000 worth of the metal to the United States; Norway about $44,000,000 and Denmark less than $5,000,000. Before the Scandiavian nations imposed foreign exchange restrictions, part of these gold shipments reflected a flight of capital. Also, it must be noted that part of this gold shipped already has been sold to the United States. Ironically, Bergen, Norway, was the principal shipping port for Swedish gold. Now, of course, all gold shipments from Scandinavia have been cut off, although it is believed that some consignments to the United States are on the high seas,
Text read from the printed page and cleaned; old type leaves the occasional error.