NEW ZEALAND GOLD
£400,000 SENT TO AUSTRALIA CONJECTURES IN SYDNEY (United P.A.—By Telegraph — Copyright) Reed. 11.5 a.m. SYDNEY, To-day. Shipments of gold valued at £400,000 have been landed here from New Zealand since May 1. The official purpose is not clear. An exchange adjustment is possibly involved, but it is regarded more likely that it is for investment in Australian Government securities, of which New Zealand investors have been making considerable purchases lately. It is evidently considered cheaper to pay freight and insurance and other charges for shipment of actual specie, than to transfer funds by New Zealand drafts on Australia at current rates of exchange.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19280516.2.183
Bibliographic details
Sun (Auckland), Volume II, Issue 355, 16 May 1928, Page 15
Word Count
106NEW ZEALAND GOLD Sun (Auckland), Volume II, Issue 355, 16 May 1928, Page 15
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