EXCHANGE MARGINS
LONDON MERCHANT'S VIEW
“R ING ’ ALLEGED.
LONDON. O'ct. 16.
In a. letter to tho Times Trade Supplement a merchant complains that the Anglo-Australian hanks are making a “monstrous” profit on telegraphic transfers of credits. He alleges that the difference between transfers from London to Australia and vice versa, is 50s per cent., wlicieas it is only 2s Gd in the cases ot most foreign countries, including Canada and the United States. The correspondent suggests that the hanks have formed a “ring ’ to fix charges in both directions, and that the Commonwealth Bank has agreed not to compete against them.
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Bibliographic details
Gisborne Times, Volume LXI, Issue 9852, 3 November 1924, Page 5
Word Count
101EXCHANGE MARGINS Gisborne Times, Volume LXI, Issue 9852, 3 November 1924, Page 5
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