SHIPMENTS OF GOLD.
NEW ZEALAND TO AUSTRALIA. TRANSACTIONS IN GOVERNMENT SECURITIES. (UNITED PRESS ASSOCIATION—BY ELECTRIC TELEGRAPH—COPYRIGHT.) (AUSTRALIAN PRESS ASSOCIATION.) ’ Received 11.25 a.m., to-day. SYDNEY, Alay 16. Shipments of gold valued at £400,000 have been landed here from New Zealand since May 1. The official purpose is not clear. Exchange adjustment is possibly involved, but the shipments are regarded as being more likely for investment in Australian Government securities, of which New Zealand investors have been making considerable . purchases lately. It , was evidently considered cheaper to pay freight, insurance and other charges for the shipi meat of the actual specie than to transfer funds by means of New Zealand drafts on Australia at the current rates * of exchange.
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Bibliographic details
Hawera Star, Volume XLVII, 16 May 1928, Page 11
Word Count
117SHIPMENTS OF GOLD. Hawera Star, Volume XLVII, 16 May 1928, Page 11
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