Word: drain
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Dates: during 1930-1939
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...hoarders, the Federal Reserve System showed last week a 61.8%, ratio of gold to deposit and notes outstanding against 67.1% the week before, 78.4%, before England suspended gold payments Sept. 21. Legal minimum is 40%. In four weeks the U. S. lost $649,000,000 in gold, largest monthly drain on record. Previous record was a loss of $99.300.000 in June 1928. Last summer when Germany and England were experiencing like movements the Reichsbank lost $247,000,000 in seven weeks, the Bank of England $779,000,000 in a fortnight. If last week's rate of decline...
...made it clear that she would win the Cup next day unless something unexpected happened. When the time came for the second heat next day. Gar Wood asked for a 45-min. postponement to repair his gas tank. Kaye Don refused-because he would have had to drain his oil and reheat it, which would have taken more than 45 minutes and perhaps made it impossible to finish the race before dark. Gar Wood repaired his gas tank as best he could and the three boats got ready for the start...
...intricacies of the 18-inch brass and rubber stoppers with the thumb screw attachment in the same three tubs which Mr. Mellon used, and of which the Dull Hotel is justly proud (TIME, Aug. 3). There seems to be no way to manipulate to prevent a slow but steady drain. But the Hull Hotel is one of the best and most comfortable hotels in Cambridge and close to the Senate House where Mellon & Son took degrees together (Benjamin Franklin and his son had degrees conferred upon them together there...
...France preparing a grandstand play to show the power of the French franc by causing a great withdrawal of gold from New York? Unlike the drain on the Bank of England it could be nothing but a grandstand play for the U. S. has still twice as much gold in its vaults as France. Still, the moral effect of the move would be great...
Within three weeks $160,000,000 in gold had been drawn from the vaults of the Old Lady of Threadneedle Street, chiefly for France. This drain on the Old Lady slowed down but did not stop entirely fortnight ago when the bank raised its discount rate to 4½%. British bankers well knew that France still had credits of over $630,000,000 in Great Britain. If she wanted to, France could draw out every bar of gold in the bank. The Daily Herald, organ of the Labor Government, minced no words: "We are in the presence of a deliberate...