LOWER EXCHANGE

Hokitika Guardian, 23 August 1933, Page 5

LOWER EXCHANGE

ENGLISH FIRM’S GOOD OFFER

10 PER CENT ON N.Z. IMPORTS

(Per Press Associatien—Copyright.)

WELLINGTON, August 22

A prominent firm of English soft goods manufacturers is prepared to land its merchandise i n New Zealand for the payment of only a ten per cent premium on the sterling price. Under this transaction thei money would he banked in the Dominion, and the firm is evidently expectiiig an early fall in the rate it ; towithdraw its.' funds. ~ j v " “ The; present offer ifijiiKe (solft-goods trade jis a particularly good one, and some '.importers are believed to have made juseMof it? already. The* the .soft-goods trade is .a .particularly good' one,' and some ihipbxter3?afe-ibelieved to have made ugelof it already. The effect of this class of business if it becomes general, will be to increase' th& surplus of London . funds for which the Government is responsible to, the.. Associated Banks, and for which-25--per- cent -or £125 has been paid in New Zealand on every £ioo realised in London.', Another London firm, booksellers, has added the following notice to its catalogue: We have opened an account with the ".-—-r bank, Welling* ton,- New Zealand. Purchases from this, catalogue may be paid for in New Zealand currency direct t 0 that bank.” In this case Jio premium at all is asked. .