IMPORT DIFFICULTIES

Evening Star, Issue 23335, 3 August 1939, Page 12

IMPORT DIFFICULTIES

REQUIREMENTS OF RESERVE BANK HARD TO FIX DELIVERY DATES [Per United Press Association.] AUCKLAND, August 3. “ The requirement of the Reserve Bank is causing: some consternation in importing cirdes,” said Mr Hugh Tliompsou, president of the Auckland! Importers’ Association, commenting on the fact that, although the time for merchants to lodge applications with the Reserve Bank for funds to pay for imports expired last night, the flow of applications continued in diminished form to-day. “ The applications were to have been lodged at Wellington yesterday, but some merchants have not been able to complete the forms.” The Reserve Bank’s action was regarded by business men as reasonable, because it was the only course open to ascertain the total commitments of the Dominion, and allocate the funds accordingly. However, it was nvident that a scheme which would take into account all the ramifications of importing was very difficult to conceive Many importers were unable to supply the data as to delivery dates. It was common useage to state “ delivery as soon as possible ” when placing orders overseas. The actual dates were unknown until the goods were ready for shipment.