CANADA: Gold on Margin

The voluptuous feeling—illicit in the U.S., agreeable anywhere—that comes from possessing a bar of gold is now available to anyone for a down payment of $34.

Canadian law since 1956 has permitted the private purchase of gold bullion, and some banks have developed a modest sideline in the purchase, sale and storage of gold bars for clients. Last week the Toronto firm of Doherty Roadhouse & Co. advertised a fresh wrinkle: margin buying. Within an hour after Partner John Rogers opened the books on the new scheme, $140,000 in orders snowed down on his desk; inquiries crackled in by the...

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