FUNDS FOR OVERSEAS
LODGING OF APPLICATIONS
RESERVE BANK'S ACTION
(By Telegraph— P-pss Aspoc-ialion.)
AUCKLAND, This Day. "The requirement of the Reserve Bank is causing some consternation in importing circles," said Mr. Hugh Thompson, president of the Auckland •Importers' Association, when commenting on the fact that although the time for merchants to lodge applications Avith the Reserve Bank for funds to pay for imports expired last night, the flow of applications continued in diminished form today.
"Applications were to have been lodged in Wellington yesterday, but some merchants had not been able to complete the forms," he said.
"The Reserve Bank's action is regarded by business men as reasonable, because it is the only course open to ascertain the total commitments of the Dominion and allocate funds accordingly. Howe\ Ter, it is evident that a scheme Avhich Avill take into account all ramifications of importing is very difficult to conceive. Many importers are unable to supply data as to delivery dates. It is common usage to state 'delivery as soon as possible' Avhen placing orders overseas. The actual dates are unknown until the goods are ready for shipment.**
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Bibliographic details
Evening Post, Volume CXXVIII, Issue 29, 3 August 1939, Page 10
Word Count
187FUNDS FOR OVERSEAS Evening Post, Volume CXXVIII, Issue 29, 3 August 1939, Page 10
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