European Stars And Stripes (Newspaper) - March 16, 1968, Darmstadt, Hesse                              Page 24 the 3tars and stripes saturday March 16 most Gold markets Are closed to assist conf med from Paa \ Gold thus freeing $10.4 billion Heads of National Banks flew to Worth of Gold to meet world Washington for a saturday meeting to try to find a solution to the great Gold Rush which Many experts Are calling the worst financial crisis the world has seen since the  in Zurich where the Central government Bank ordered All dealing stopped Black Market prices soared As the Price of the Dollar fell in relation toothed currencies. Prime minister Harold Wilson ordered the London Gold Market  the meantime the Federal Reserve Bank of san Francisco joined nine other Banks in the system in raising its discount rate on Loans from 4.45 to 5 per cent. The Reserve Board opened the Way for such action thursday by increasing its own discount rate by that amount. The scene at the Paris Gold Market had More the appearance of a Brawl than a financial trans action. Brokers scrambled stormed and even battled their Way into the Gold Market to London up a notice outside St. Edmund s Church in the heart of the financial District Friday read prayers for Bankers be tween 12 and 2 o  Europe s largest closed report edly after a hot line Telephone consultation with president John son. The White House denied that Wilson talked to Johnson on the  president did not have any conversation with the prime minister White House press Secretary George Christian  two week old Gold Rush threatens to pull the Rug from under the . Ceiling of $35 an  Queen met with her top ministers and advisers Friday evening and then announced the closure of the Gold Market an the Stock Exchange would be extended through  Means Only that Banks will not Deal in foreign Exchange since both the Gold Market and the Stock Exchange normally Are closed on saturday. The speculation that put Gold prices up to $44.36 an ounce on the Paris Market is putting additional Strain on the Dollar. In european financial circles there is talk of devaluation despite pledges by the .government to keep the Dollar at its present  Washington the president was ready to sign As soon As i reached his desk a Bill to remove the requirement that 25 per Centof . Currency be backed by Gold taken to London via of base London a what was believed to be a Large Quantity of Gold was conveyed Friday fro the . Air Force s Mildenhall Bast to to e Bank of England in secret operation. Both the Bank and the .Treasury s representative at the american embassy declined to comment. A . Air Force spokesman said this is not the first of this Type of Convoy but we cannot comment on  . Treasury announced earlier this week the Transfer of$450 million Worth of Gold to feed the International Pool in  Convoy was escorted by a unit of the commando squad of the metropolitan police. It was the third Transfer of Gold via Mildenhall since november. Spanish rail crash kills 26 Santa Maria de la Ala Meda Spain up a crack diesel express train collided with a Railroad maintenance Crew train Friday near this Small Mountain Village. Scores were killed or injured. Police at the scene reported that the death toll was 26 but officials feared it might climb higher because some of the 80injured passengers were in critical  train involved in the crash was the Ter de Galicia express which was on its Way from Madrid to the Northwest Ern seaport of Vigo in Galicia. Among the injured police said was mrs. Elizabeth Hunter Sanchez an american and her Viet policy held Gold Rush cause Washington spokesman for up a group of businessmen formed to protest the administration s Vietnam policy charged Friday that the Gold Rush can never be stopped until our present suicidal policy in Vietnam is  Harold Willens co chairman of business executives move for Vietnam peace be Tolda news conference american policy in Vietnam to which stubborn handful of men cling threatens the Gold Market. And the entire viability of the United states  Willens insisted the group i nonpartisan and nonpolitical but said it considered the bestow All possible worlds would be for the republicans to nominate new York gov. Nelson a. Rockefeller and the democrats to pick sen. Eugene j. Mccarthy d-minn., to oppose each other for the presidency. We will remain out of politics but Well run interference for All candidates who stand for getting out of Vietnam Willens said. Asked How the group Felt about sen. Robert f. Kennedy d-n.y.,Willens said i Don t under stand that he is a  he said All his statement represented the views of the executive committee and the estimated 2,000 members of the group formed last september Tourge negotiations toward peace in Vietnam. Willens said president John son s proposed 10 per cent tax weather partly Cloudy to Cloudy with Occa clonal Shower. Little change sunday. Frankfurt Heidelberg High 42, Low 33. Temperatures recorded Friday get am pm 46 67 Adana c 46 66 at finc c 43 s2 Valano p 34 41 Berlin t 41 45 Frankfurt p 43 45 London p 4 4 am pm 39 55 Madrid p 36 46 Munich p 43 48 Par p 37 43 Prei Tolck p 43 54 Rome p 43 68 Wheelu o a Clear a partly Cloudy a rain. 2nd weather Wing. Surcharge and minor Cut backs in Domestic programs were not the answer to the current monetary crisis. He said these would be like treating cancer with aspirin. The Gold Rush is related to escalation in Vietnam and obviously that is the cancer,1said Willens. The Gold Rush will grow As it the War  he said Vietnam is sickness that makes Confidence in the United states erode throughout the world. We All know that what really supports the . Dollar is the health of the american Economy he said. I think the Gold crisis is a permanent reflection of eroding Confidence in our  Kennedy. Continued from Page with a Broad smile and said that s very  asked which Way he is lean ing Kennedy said straight up not indicating whether he was referring to political fans or the fact that he was almost being swept off his feet by the crowd of  Indianapolis sen. Vance Hartke d-ind., quoted sen. Edward Kennedy d-mass., As con firming that his brother will announce for president saturday. Stocks. Continued from Page 1 of the Glamor stocks such Asim Polaroid Xerox Tel Edyne and control data. Strength also was shown by a wide variety of Blue chips. The substantial gain was scored in the first session after the Federal Reserve boar raised the discount rate to 5 per cent from per cent. The Dow Jones average of 30industrials closed with an and Vance of 6.64 Points at 837.55. Bicoff Calls for Europe troop Cut . Naturalized husband Jose Sanchez Castro. All the other injured were identified As spaniards. The dead have not yet been identified. The Accident occurred 55 Mies from Madrid in the Guadarrama mountains near Robledo de Cha Vela where the . Space track ing station is located. Washington up  Ili Bicoff Friday advocated the United states reduce its military forces in Europe and require Host nations to pay the Bill for maintaining those re  advanced the suggestions on the Senate floor in a speech dealing with the problem of the United states deteriorating bal Ance of payments. The Connecticut Democrat Saidu  not unreasonable that America s european allies finance with dollars the Cost of keeping . Troops on their soil. He charged this o v e r abundant Supply of dollars was accumulated by the europeans during the past 18 years at  another Way to improve t h . Balance of payments Hibi coff said was to be More discriminating about foreign Aid. He urged More attention be Given to subsidizing foreign educational programs which t r a i the human resources of a recipient  opposed devaluing the Dollar contending it would re sult in enormous advantages for Gold producing countries such Ashe soviet Union and South of  would also be a serious breach of Confidence with our Many allies who have chosen freely to hold dollars instead of that yellow Metal he said. S. Viets deny invasion army being formed Saigon a vice presi Dent Nguyen Cao by s office de Nied a recent report that one Sofky s officials was organizing a Volunteer army to invade North Vietnam. The government s chief spokes Man said last wednesday that the army was being formed be cause South vietnamese were sick and tired of the Vietcong saying they were trying to liberate South Vietnam. The official Vietnam press also reported wednesday authoritative sources reported to Day that a High ranking Mem Ber of the vice president s offices forming an army to March to the  informed sources identified Nguyen Thien Nhon a special assistant to Kyas the alleged organizer of the army. Friday s statement also denied by had told newsmen thursday that if enough men Volunteer forthe army we will form  de Gaulle attends rites Paris a preside Tcharles de Gaulle his ministers and More than a Hundred French generals Friday attended the funeral of Gen. Charles Villeret chairman of the joint chiefs of staff who was killed in a plan Accident last saturday. And the for Only a Hal rated in the basement of Stock Market. Time a fist fights broke my Ding supposed to last 50 minutes stretched hour overtime. Bidding on the Pari Market is not done by too in As in most other  Oun Ione kilogram 2.2 and Small coins. The Price or these ingots jumped from thus Day s closing Price of till $l,400-a leap of 23 per cent according to calculations ithe . Embassy this i i no mean Gold was Selling for $44.35 i ounce a fantastic jump of Ufi Lover thursday s $35.90. I on the Zurich Black Market under the table dealers were get Ting almost the same Price there was no report of dealings elsewhere. Markets in Johannes Frankfurt Salisbury and Cana remained closed after the British decision not to open. In addition to pressure on to Dollar the Gold Rush also h played havoc with the Pound valued from $2.80 to $2.40 not 18. Before foreign Exchange dealings closed thursday it had dropped to a new Low of $2.39.there were rumours in British circles of a further devaluation the Cabinet met for two hours and 10 minutes to discuss the crisis. The budget is being presented by the Wilson government on tuesday. From Advance indications it Means an even further tightening of the Belt for already shaky British Economy. Thus Britain will also be greatly affected by any decision taken in Washington during saturday s meeting. European financial experts have Felt that the United states has been Overly slow to react tothe Gold Rush which actually started in november and that drastic action is needed. Aside from the closing of Many Gold markets most european nations slapped restrictions on exchanges of foreign currency at London Airport. Europe busiest a number of american travellers found themselves Short of funds for the weekend since Banks would change Only limited amounts. 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