The Archive · 1940

Lloyds Raise Rates

London, July 18.

Lloyds of London yesterday abruptly raised war risk rates for cargoes being shipped under the Portuguese flag between Portugal and the Ameri-eas, The rate was raised from three per cent. to five per cent. No explanation was given for the sudden—action—United Press. replaces the former free limit of 500, yuan per annum. Remittances by Eoolies' to their homes (in North. China, from where they were imported) are also subject to permits.

The Kwantung Territory. it was also announced, has taken similar steps, to ensure full ce-ordination with Manchoukuo in their common econo-lo policy. The revised exchange control Jaws came into effect on July Dificulty of British with Money in France States.

"We naturally do not want these' assets to get under the effective control of Germany." said Sit Frederick Phillips, adding that he could not dis. cuss what, If any, assurances he had Feceived about the United States polley towards these assets.

When questioned, regarding the future of Value of gold. since British payments are reported to be conce: frating nearly all the world's gol the United, States, Sir Frederick: Phillips said: "We have no doubts on the future value of gold."—Reuter.

Text read from the printed page and cleaned; old type leaves the occasional error.

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