EXCHANGE WINDFALL
DAIRY COMPANY'S LUCK
DRAFTS SIGNED A DAY LATE [BY TELEGRAPH OWN CORRESPONDENT ] "WHANGAREI, Tuesday By pur» good luck the Hikurangi Cooperative Dairy Company, Limited, has already benefited to the extent of £5Ol as a result of the increase in the exchange rate last Friday. *
The chairman of directors of the company almost invariably calls at the company's office at Whangarei on the 19th day of each month to sign drafts on London for tliß advance payments to suppliers. This month, however, without the slightest thought of the exchange rate being altered, he called in on the 20th, by which time the rate had been increased to 25 per cent. The result vas that the company has benefited by just over £SOO.
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Bibliographic details
New Zealand Herald, Volume LXX, Issue 21399, 25 January 1933, Page 8
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123EXCHANGE WINDFALL New Zealand Herald, Volume LXX, Issue 21399, 25 January 1933, Page 8
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