IMPORTERS PERTURBED
RESERVE BANK DEMANDS APPLICATION TERMS (Per Press Association.) AUCKLAND, this day. “The requirement of the Reserve Bank is causing some consternationin importing circles,” said Mr. Hugh Thompson, president of the Auckland Importers’ Association, commenting on the fact that, although the time for merchants to lodge applications with the Reserve Bank for funds to pay for imports expired last n-ight, the flow of applications continued in diminished form to-day. The applications were to have been lodged at Wellington yesterday, but some merchants have not been able to complete the forms, he said. The Reserve Bank’s action is regarded by business men as reasonable, because it is the only course open to ascertain the total commitments of the Dominion and to allocate funds accordingly. “However, it is evident that a scheme which will take into account all the ramifications of importing is very difficult to conceive. Many importers are unable to supply data as to delivery dates. It is common usage to state ‘delivery as soon as possible,’ when placing orders overseas, the actual dates being unknown until the goods are ready for shipment.”
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Bibliographic details
Gisborne Herald, Volume LXVI, Issue 20007, 4 August 1939, Page 11
Word Count
184IMPORTERS PERTURBED Gisborne Herald, Volume LXVI, Issue 20007, 4 August 1939, Page 11
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