Word: bullion
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Dates: during 1930-1939
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...guarding the treasure, half of which under Panama law belonged to the Government. Determined that there should be no hitch President Arosemena ordered his trusty chief of police, Colonel Manuel Pino, to take five planes and fly to David-nearest possible landing ground to the mine-to bring the bullion to Panama...
...piece at a time, gold came in to the sisters in the form of rings, pins, bracelets, keepsakes. The Carmelites had a monstrance designed by a firm of goldsmiths in Utrecht. Planning to have the monstrance plated, they sent the jewelry to a smelter to be converted into bullion. But they reckoned without President Roosevelt's gold acts of 1933 and 1934. Last week, in response to queries from the Carmelites regarding sending their bullion abroad, the Treasury Department informed them they must surrender it to the U. S. Mint. The sisters learned they would get only...
...paneled room in the offices of N. M. Rothschild & Sons on London's St. Swithin's Lane, six immaculate gentlemen gather every morning except Sundays and bank holidays to fix the world price of gold. These six men, the so-called Gold Committee, represent six great British bullion brokers: N. M. Rothschild & Sons, Mocatta & Goldsmid, Samuel Montagu & Co., Pixley & Abell, Sharps & Wilkins, Johnson, Matthey & Co. Before each member is a telephone directly connected with twelve telephones in his home office. There attentive clerks are connected with the firm's customers-other bullion brokers, mining companies, banks...
Last week the dignified bullion brokers put in some of the worst days of their lives. On a fresh crop of rumors that the U. S. Treasury was about to cut its buying price, an avalanche of hoarded gold hit the market. Day after day the morning offerings swelled until they reached an all-time one-day high of 1,493 bars- about $21,000,000 worth. By week's end $65,000,000 worth of the precious metal had passed over the table in Rothschild's. Most of it was bought by the British Stabilization Fund...
...British Empire is the world's greatest gold producer, the world's biggest investor in gold mining stocks. London, moreover, is a world commodity centre, and lower gold means lower commodities. Also, London is the world's leading free gold market. Hundreds of millions in bullion were stored in London during Depression when paper money was slipping its gold moorings...