NO CHANGE.
INSTRUCTIONS TO BANKS.
LONDON FUNDS REFUSED
(By Telegraph.—Own Correspondent.)
NEW PLYMOUTH, this day
"That is absolutely contrary to the instructions under which New 'Plymouth bank managers are working," said 0112 of the importers, who stated on Thursday that trading banks in New Zealand were flatly refusing to provide funds for the purchase overseas of goods authorised by second period licenses, when the London denial that funds were being held up was referred to him.
He said the banks stressed there was no differentiation between traders, but that the refusal to provide credit overseas applied to all. In any case it was too much of a coincidence that two liiyifirms were both refused credit at the same time. In onp case at least the bank manager referred the question to his chief inspector at Wellington, who con firmed that credit was not to be issued.
Inquiries by importers yesterday showed that the instructions to the bank were unchanged. Firms could still not j,'Ct their credit, and it was confirmed beyond doubt that credit for the purchase of goods overseas was not being issued.
Cables have been sent by New Plymouth importers to their shippers in London seeking information, but so far there have been no replies.
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https://paperspast.natlib.govt.nz/newspapers/AS19390610.2.113
Bibliographic details
Auckland Star, Volume LXX, Issue 135, 10 June 1939, Page 16
Word Count
207NO CHANGE. Auckland Star, Volume LXX, Issue 135, 10 June 1939, Page 16
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