DOMINION’S CREDIT
FEARS IN LONDON i CONTROL OF EXCHANGE BANK OFFICER’S REMARK STOCK PRICES REACT '.U.P.A.— By Electric Telegraph— Copyright! (Received 14th July, 9.15 a.m.) LONDON, 13th July.. Fresh rumours detrimental to New Zealand are circulating in the city. A statement by the manager of a New Zealand branch bank i that applications for exchange involving large transactions would not be encouraged, as the bank was anxious to preserve its London funds, led to reports that an embargo on remittances from New Zealand was contemplated. | The “Financial News” states that i j trading concerns consider it certain | that the New Zealand banks are atJ tempting to exercise a form of unofficial i control of exchange transactions to pre- ,! vent the flight of capital abroad. New Zealand bonds have been af- '• fected by the rumours. .
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NEM19380714.2.62
Bibliographic details
Nelson Evening Mail, Volume LXXII, 14 July 1938, Page 7
Word Count
134DOMINION’S CREDIT Nelson Evening Mail, Volume LXXII, 14 July 1938, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Nelson Evening Mail. 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