FLOW OF CAPITAL.
INVESTMENTS IN AUSTRALIA. A STORY DISCOUNTED. (by TELEGRAPH —PRESS ASSOCIATION.) AUCKLAND, Aug. 19. “There has been some talk lately,” said Sir Harold Beauchamp to-nignt, ‘about- money being sent out of the Dominion for investment in Australia, but the amount has been greatly everestimated. It is true the rates for money in Australia to-day are aporoximately half to one ner cent, higher than in New Zealand, but the exchange between New Zealand and Australia, say 2 per cent., is a.practical bar to the transfer of large sums. Some big lending institutions whose head offices are in Australia have been making heavy advances to local bodies in the Dominion at rates t'-oni ol to s:* per cent., but these advances are made upon the understanding that the interest and principal are'payable in Australia.”
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Bibliographic details
Hawera Star, Volume XLVIII, 20 August 1924, Page 9
Word Count
134FLOW OF CAPITAL. Hawera Star, Volume XLVIII, 20 August 1924, Page 9
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