Indianapolis Times, Indianapolis, Marion County, 23 May 1946 — Page 29

THURSDAY, MAY 23, 1948 ____.__ BR FOOD MARKETS] : W hl le ned, i By ROBERT J. SULLIVAN first press tour since world war 1, © 1132 Prospect St. "United Press Stat Corresfordent [of the bank's reportedly impreg- ® Cor. 22nd and Talbot NEW . YORK, May 23—Nearly nable vaults. - ® 2722 W, 10th St one-third of the known foreign| In closely guarded chanibers five Three stores offering the finest heldings of gold today rest in safe- | stories beneath the street and 65 in all your food needs. © ‘fj keeping 85 feet below street ,level felt below sea level, the writer was MEATS—PRODUCE—~FROZEN FOODS in the heart of New York's financial| shown more than $4,000,000,000 in POULTRY~FISH—~GROCERIES district. - gold ‘owned by-many nations of the 4 ‘This was made known when offi-| world. The officials, however, reclals of the Federal Reserve bank|fused to divulge the names of the of New York togk newsmen on the!countries or even to tell how many

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- Foreign G had their gold in federal reserve vaults. - 8 The known gold reserves of foreign ndtions stand close to $14,000,000,000, excluding Russia's hoard. No one knows just how much gold the Soviets own. One gold expert recently estimated that Russia held more than $4,000,000,000 of the metal. The gold stacked to the ceiling is “earmarked” metal. It is likely that some countries may never see their holdings. When they run short of dollar balances, they may convert their gold into U. 8. cur rency merely through a bookkeeping transaction. If they wish to pay in ‘gold for goods purchased from some other foreign country, the payment may be made by transferring the gold from the vault of the purchaser to that of the seller. The $14,000,000,000 in gold owned by foreign nations, excluding Russia, compares with a little more than $20,000,000,000 in the possession of the United States. Most American gold is stored at Ft. Knox, Ky. The United States in November, 1941, held a record high of ‘nearly $23,000,000,000 in gold. However,

Marlene Dietrich Demobilizes Self

PARIS, May 22 (U, P.).—Film actress Marlene Dietrich mustered herself out of the army last night with a farewell appearance before a packed house of G.1.'s in the Paris Olympia theater. It was her 500th-plus personal appearance for American soldiers scattered through Africa, Green-

land, Labrador, Iceland, Italy, France, England, Holland; Belgium, Luxembourg, Germany,

Austria and Czechoslovakia. “lI had to demobilize myself sometime and get back to my personal work,” she said after the

old-timers have gone home and been demobilized, I figured the | army no longer needs me.”

THE INDIANAPOLIS TIMES

old Reserves

when this country began to make heavy purchases of war goods, es pecially in Latih America, its gold reserves started to dwindle, The closely guarded vaults have triple protection. Each door has three locks, There is a department responsible for each of these locks, and no door can be opened without a representative from each. The main entrance to the vaults is through a thick steel door that operates on a turntable after two combinations are worked. Officials permitted newsmen to entér a chamber to examine personally the gold bars stacked up against the walls. The average, weight of each bar is around 27 pounds. In addition to the converttional American gold bar, shaped like a brick, there were rand bars from South America, Canadian ingots and many other types. Bank officials said that to their knowledge no attempt ever had been made to break into the vaults,

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