N.Z. CREDIT SLUMP
LATEST ILLUSTRATION. (By Tele<jra2)h —Per Press Association) ELTHAM, March 6. Australia’s present unhealthy position is apparently having a direct eifect on New Zealand’s financial reputation with overseas firms, as a Taranaki firm of Merchants handling large tea consignments has received communications from Colombo that all of the Exchange Banks at Colombo have decided to discontinue to discount hi lls on either Australia or on New Zealand as long as the prevailing instability lasts. .Alternative suggestions are that a remittance .-should accompany orders or that there be an establishment of sterling credit at London against which overseas firms could draw.
The local merchants have suggested the establishing or letter credit with the Colombo banks.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/HOG19310307.2.47
Bibliographic details
Ngā taipitopito pukapuka
Hokitika Guardian, 7 March 1931, Page 5
Word count
Tapeke kupu
116N.Z. CREDIT SLUMP Hokitika Guardian, 7 March 1931, Page 5
Using this item
Te whakamahi i tēnei tūemi
The Greymouth Evening Star Co Ltd is the copyright owner for the Hokitika Guardian. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Greymouth Evening Star Co Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in