“BLACK EXCHANGE.”
CLARIFICATION URGED. Per Press Association. CHRISTCHURCH. April 11. In a recent announcement prohibiting tlic use of “black exchange,” the Minister of Finance (Hon. W. Nash) made no mention of those importers who had in consideration of their having bought “black exchange” applied for import licenses. The executive of the Canterbury Chamber of Commerce this evening decided to ask the Associated Chambers to obtain some clarification of the position. 'Mr IT. S. Williams said that quite a number of businesses bought “black exchange” and held it pending the issue of licenses. The Minister did not say whether the regulation was to be retrospective or. not. If they were not made retrospective many businesses were going to losu on exchange for which they had in general paid pretty dearly. ADVERSE EFFECT. Per Press Association. AUCKLAND, April 11. Owing to th» effect of the Finance Emergency Regulations, business on the Auckland Stock Exchange was adversely affected. The exchange was unable to quote script whose registration is outside New Zealand. The chairman, Mr J. W. Frater, explained to members to-day that ho wa3 making representations to have the regulations eased without any loss of efficacy.
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https://paperspast.natlib.govt.nz/newspapers/MS19400412.2.98.6
Bibliographic details
Manawatu Standard, Volume LX, Issue 114, 12 April 1940, Page 10
Word Count
193“BLACK EXCHANGE.” Manawatu Standard, Volume LX, Issue 114, 12 April 1940, Page 10
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