VALUE OF THE POUND.

New Zealand Herald, Volume LXVIII, Issue 21068, 30 December 1931, Page 9

VALUE OF THE POUND.

BRITAIN AND AUSTRALIA. TEST CASE IN LONDON. LONDON. Dec 20. Lord Justices Greer and Slesser, with Lord Justice Scrutton dissenting, allowed the appeal of Westraliau i'armeis, Limited, against Mr. Justice Rowlatt s decision in favour of the King Line, Limited. The case arose out of the difference between the Australian and English pounds. Lord Justice Scrutton saal he considered that had it been intended that a different number of Australian pounds should have been paid from the number payable in British currency, the charter party would specifically have said so. The other two judges held that |he contract recognised British and Australian currency as two different things. The case referred to in the message was a tost, case in which plaintiffs claimed commission from the King Line, Limited, under a charter, tho question being whether the commission was payable in British oy Australian money. Defendants chartered the King Arthur to plaintiffs under a Chamber of Shipping Australian grain charter, to take cargo from Australia to London, the commission to be paid on the cargo being loaded. Plaintiffs sought to recover £154 17.s the difference between £671 0s Id commission paid in Australian currency and the amount in British currency.