Gold Shipments

The International Acceptance Bank, Inc. lost approximately $1,000 last week by shipping $1,000,000 in gold coins to England. But thereby the bank gained the prestige of being the first U. S. institution since 1914 to send gold to England as a transaction in foreign money exchange.

Two other conditions stimulated the shipment: 1) A fortnight ago transatlantic steamships reduced their freight charges from $3,750 to $1,500 for each $1,000,000 of gold carried; 2) The pound sterling increased in international value above its par of $4.8665 to $4.8828....

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