N.Z. EXCHANGE
COMMENT FROM AUSTRALIA,
(Australian Press Association.)
-SYDNEY, June 27,
The financial writer in the Sydney “Sun,’’ discu&sing the future of New Zealand’s exchange says: “It appears doubtful whether the period of the •pool will be extended, especially 'n rvie.w of the belief that the Bank of )Ne\v South Wales favours, its termination.”
The article continues: “In banking circles, it is stated that there has been fairly considerable buying lately of ■New Zeai'and credits in London, the operators acting in anticipation of an increased exchange rate.. ,A readjus.ment upwards is calculated to impart the check to the activities of the British exporters to the Dominion. -.
Should their (the British exporters) exchange requirements decline substantially, the probable result would be that a proportion of New Zealand credits in London would be taken over by interests, which, on such dealings, would reap material gains, their advantage being enhanced by any increase in the Austra-Han-London rate that might become effective while they were disposing of the credits they had bo acquired." a-
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Hokitika Guardian, 28 June 1932, Page 5
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170N.Z. EXCHANGE Hokitika Guardian, 28 June 1932, Page 5
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