N.Z. SECURITIES
AUSTRALIAN DOMICILE
WANTED FOR MUNITIONS
A further statement has been made on the Government's intentions regarding New Zealand-owned securities invested in Australia. In reply to a question, the Minister of Finance (the Hon. W. Nash) said that these securities were likely to be used for the purchase of munitions, because the Government had no funds in Australia and had not had any.
The purchases are being arranged by a commission to Australia headed by the Minister of Supply (the Hon. D. G. Sullivan) and including an official of the Reserve Banks
Mr. Nash said that the alternative to not purchasing Australian securities domiciled in Australia and held by New Zealanders was that the Government would have to get the funds from Great Britain to buy in Australia.
"It will be a long procedure before we can decide how the securities are to be taken over," added Mr. Nash. '•'Several cablegrams have been received, and negotiations are proceeding with the Australian authorities."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19400705.2.36
Bibliographic details
Evening Post, Volume CXXX, Issue 5, 5 July 1940, Page 6
Word Count
163N.Z. SECURITIES Evening Post, Volume CXXX, Issue 5, 5 July 1940, Page 6
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in