ILLEGAL DEALING IN OVERSEAS FUNDS
CHAMBER OF COMMERCE DISCUSSION The council of the Canterbury Chamber of Commerce last evening decided to instruct its import section to frame a resolution condemning the alleged practice of some importers in building up their overseas funds by causing their principals overseas to charge additional prices or commissions.
The Prime Minister (Mr Holland) referred to this practice in a speech to the United Kingdom Manufacturers’ and New Zealand Representatives’ Association in Wellington on Wednesday.
“This is an illegal, black-marketing use of funds required for other purposes.” said Mr H. C. Hurst, after reading extracts from the report of Mr Holland’s speech. “We should pass a resolution seeking to stop it.” The president (Mr H. S. Williams): We should turn our backs on it.
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Press, Volume LXXXVI, Issue 26212, 8 September 1950, Page 6
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128ILLEGAL DEALING IN OVERSEAS FUNDS Press, Volume LXXXVI, Issue 26212, 8 September 1950, Page 6
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