NOT REFUSED.

Auckland Star, Volume LXX, Issue 139, 15 June 1939, Page 14

NOT REFUSED.

IMPORTERS' REQUESTS.

STERLING ACCOMMODATION.

(By Telesjraph.—Pre»» Association.) I WELLINGTON, Wednesday. I Although there is a general impression ' that some firms are experiencing difficulty in obtainipg the necessary sterling exchange to pay for imports for which licensee have been granted, fairly extensive inquiries made during the past two or three days have failed to disclose one actual case of a merchant who has had the personal experience of being refused sterling accommodation. Even organisation* in touch with all sections of the business community could not quote one concrete example. An importer operating on an extensive scale said his company had had no difficulty in obtaining exchange for all Reasonable requirements. However, in the case of a request to a bank to negotiate a three • months' draft on India, which would not normally be until about November, the bank had replied that in the present circumstances it could not look so far ahead, but would negotiate the draft if it could be made a sight draft. This the company had deckled to do, and the transaction had accordingly been put through.