STERLING PURCHASES.
DIFFICULTY OVERCOME.
WHOLESALERS AND MERCHANTS.
(By Telegraph.—Fress Association.) WELLINGTON, Friday. Since the inception of the import regulations many wholesale houses have experienced difficulty in arranging sterling" for purchases from abroad where a license is issued to a merchant client. The difficulty has now been overtome by an arrangement entered into by the Reserve Bank of New Zealand with trading banks.
Banks will now be provided with forms, which* will be supplied to wholesalers, who. in turn will hand them to their merchant clients. As holders of importing licenses merchants will take these forms to their own banks, where, after the necessary adjustments have been made, a certificate will be issued to the wholesaler which will ensure him to arrange the necessary sterling with his own bank.
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Bibliographic details
Auckland Star, Volume LXX, Issue 35, 11 February 1939, Page 12
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128STERLING PURCHASES. Auckland Star, Volume LXX, Issue 35, 11 February 1939, Page 12
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