In Geneva, officials of the Central Clearing Banks met with Herr Voleschtadt of Poland to discuss non-returnable loans on a twelve-year trust basis for the construction of a new zinc-treating works in the Omsk area of Krakow, near the Bulestan border. The Board of Trade has ratified a Trade Agreement with the Soviet Union for the sale of 600 low gear electric sewing machines. The President of the Board of Trade said he hoped this would mark a new area of expansion in world trade and a new spirit of co-operation between East and West. There has been a substantial drop in Gold Reserves during the last twelve months. This follows a statement by the Treasury to the effect that the balance of imports situation had not changed dramatically over the same period.