France Devalues Franc and Links to Convertibility in Europe
London reports that France plans full convertibility of the new franc from tomorrow for non residents and franc zone. The move follows coordinated European action with Britain and Germany while the franc’s dollar rate moves to 93.70 per dollar and 1,382.39 francs per pound. The European Payments Union will end, and a heavy franc will be phased in by 1960. The United States welcomed the steps as progress toward restoring currency convertibility and easing trade restrictions.
MENTIONED IN THIS ARTICLE
London
U.K. Treasury
Germany
Norway
Sweden
Holland
Menten
U.S
Ty Rome
Firapean
Amery Associated Press
Reuter
M. Jacques Soustelle
France
Paris
M. Saustelle
European Payments Union
Jnuary
State Department
Europe
Australia Sees Sterling Convertibility Move Impact on Trade
Australian officials welcomed Britain’s step toward sterling convertibility and France’s financial measures as a move to ease international payments. Holt noted France’s external position could improve with freer trade, while McEwen linked this to Australia’s role among big trading nations and shifts in import licensing and dollar payments. Sparks warned exporters face tougher competition, urging price adjustments.
MENTIONED IN THIS ARTICLE
Holt
Australia
Montreal
McEwen
France
Four Remain In Pole-sitting Competition
In Geelong four contestants remain in the pole-sitting championship at Port Darlington and Hy-Lite Park. John Melis and L Richardson lead the Geelong group bidding £100 prize, with a nine month sit noted for Portarlington entrants. Contests began Christmas Day with sitters using radios mats deckchairs and large beach umbrellas.
MENTIONED IN THIS ARTICLE
Geelong
Port Darlington
John Melis
L. Richardson
Portarlington
Sitjters
Two Injured In Car Collision At Local Junction
Two people were injured in a collision at the corner of North Bourne Avenue and Girra Wheen Street last night. Allan Mulligan and Mrs Elsie Lucas suffered shocks and injuries and were taken by ambulance to Canberra Community Hospital for treatment before being released. Both cars were badly damaged.
MENTIONED IN THIS ARTICLE
Northbourne Avenue
Girrahwheen Street
Girrawheen Street
Allan Mulligan
Scrivener Street
O'Connor
Elsie Lucas
Cabbage Tree Lang
N.S.W
Robert Charles Lucas
Mulligan
Russia Signs Cairo Pact to Fund Aswan Dam Stage
Russia agreed with the United Arab Republic in Cairo to provide £33,000,000 for the first stage of the Aswan Dam project, Cairo Radio reported Sunday.
MENTIONED IN THIS ARTICLE
Aswan Dam
London
A.a.p.ruuter
Russia
United Arab Republic
Cairo
Balloon Hoax Confounds Search For Missing Flight Crew
Reports claimed a balloon landed in Venezuela on Friday after departing the Canary Islands for the West Indies. Venezuelan aircraft searched 16 hours with Trinidadian officials canceling due to lack of evidence as four Britons and one woman were aboard the mystery craft.
MENTIONED IN THIS ARTICLE
Venezuela
Canary Islands
West Indies
Caracas
Piarca Air
William Leach
Trinidad
Iti
Trinsidad
Machadoc
Police Recapture Long Bay Prison Escape
Robert James Hall, 22, who fled Long Bay Gaol on December 17 in a truck, was captured near False Bay Mt Stephens. He was recognised at Shoal Bay and taken to Newcastle, charged with stealing a sedan at Belmont and escaping custody. He appeared scheduled for Newcastle Court. Detectors said a guard fired five shots at the breakout. a bullet struck the truck door beside him.
MENTIONED IN THIS ARTICLE
Rewursile
Long Bay
False Bay
Mt Stephens
Robert James Hall
Hall
Shoal Bay
Newcastle
Belmont
Newcastle Court
Reds Prepare New Year Celebrations
Soviet shops display toys, bells, and tinsel for New Year. Russians do not celebrate Christmas but on January 1 exchange gifts and take the day off work.
MENTIONED IN THIS ARTICLE
MUBCL
Cunusy Vtva
P.-Reuter
Motor Cyclist Killed On Federal Highway
A young motor cyclist, Gerad Kuster, 20, of Raleigh Road Mile Perra NSW, died after a collision with a motor car on the Federal Highway near Lake George. He died on arrival at Choulburn Base Hospital while en route to Sydney. Two doctors in a car from Canberra aided at the scene and one accompanied the wounded man to the hospital.
MENTIONED IN THIS ARTICLE
Lake George
Gerad Kuster
Raleigh Road
Mileperra
N.S
Kuster
Choulburn Base Hospital
Sydney
Canberra
Soviet Threats Stir Cold War Tensions in London
London dispatch reports Moscow Radio warning that NATO would face a smashing retaliatory blow on first day of any attack, citing comments by Sokolovsky and British defense rhetoric. The program also notes U S plans to boost aid to Persia and expand bases as part of alliances with Turkey and Pakistan along Soviet borders.
MENTIONED IN THIS ARTICLE
London
P.reuter
Britain
NATO
Moscow
Fal
Marshal Sokolovaky
Supreme Soviet
Sandys
Briain
Moxon Radio
U.S
Persia
Turckey
Pakistan
Soviet Union
Ussr
USA
Also Mentioned on This Page
A.a.p.reuter
General de Gaulle
M. Antoine Pinay
Trane
Austrain
Wercomeu
U.K
Mctiwen
Price
Australian Exporters’ Federation
Arthur Sparks
REDS
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