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Bank of England Deal
In Mining Shares
LONDON, Wednesday.— The Bank of England
has agreed to sell to a group of British South
African and, Belgian mining finance houses a
big block' of mining shares which indirectly
Involve a minor holding in Belgian Congo uran
ium, says Reuter's finance editor.
It Is believed on the London
Stock Exchange that the buyers
will in turn be entitled to re
sell part of the holding to an
American group which has
been concerned in the nego
tiations.,
The American .group is
Ladenburg,' Thalmann and Co.,
New York, merchant bankers,
and their associates.
If this re-sale goes through
the American group will ac
quire less than 1)4 per cent, of
ownership in the Union
Miniere, the great Belgian
Congo producer of various
metals, including copper and
uranium.
The British Treasury sale,
clinched yesterday by the Bank
of England, . Involves 1,667,961
shares in Tanganyika or the
Union Miniere, and 90 per cent,
of the Benguela Railway, the
link between the Congo, Portu
guese West Africa and the
coast.
The shares in the deal are
worth about £2 million.
$