CAPITAL TEANSFEES
RESTRICTIONS LIFTED
Restrictions imposed by the banks upon tho transfer of, capital funds from London to New Zealand having been lifted, the trading banks are now free to deal with sharebrokers' drafts in their ordinary way- of business.
AVhile tho restrictions remained considerable outsido business in exchange, developed. This is now expected to subside. , •
The effect of sharebrokcrs realising securities in London was in-tho direction of augmenting tho banks' London funds at the expenso of their holdings in New Zealand. This will now be prevented by. tho banks' resumption of negotiating drafts by. sharebrokcrs.
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Bibliographic details
Evening Post, Volume CXVIII, Issue 34, 9 August 1934, Page 14
Word Count
96CAPITAL TEANSFEES Evening Post, Volume CXVIII, Issue 34, 9 August 1934, Page 14
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