Commerce, Mining, Finance
Wright, Stephenson Earns Less
Adjustment in Exchange Rate Urged
Australian scrip quoted on the Dunedin Exchange this morning was uncertain, with easier values for some lines. Dominion issues retained firm support.
Net profit earned by Wright, Stephenson and Co. Ltd. during the year ended June 30 was lower by £5,148 at £42,863 on the preceding period. Ordinary” dividend is held at 5 per cent., while it is proposed to repeat the bonus distribution of shares in Abraham and Williams Ltd.
“ The New Zealand ,exchange rate of - £N.Z.125 to £IOO sterling must and will he adjusted. If this is not done by the powers that be, then economic laws will step in.” This is the conclusion reached by Sir William Hunt in his memorandum attached to the annual report of Wright, Stephenson and Co. The margin between export prices and internal costs in New Zealand is growing wider and wider, he adds.
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https://paperspast.natlib.govt.nz/newspapers/ESD19390822.2.39
Bibliographic details
Evening Star, Issue 23351, 22 August 1939, Page 6
Word Count
154Commerce, Mining, Finance Evening Star, Issue 23351, 22 August 1939, Page 6
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