NEW ZEALAND GOLD
SHIPMENTS FOR AUSTRALIA. PURPOSE NOT CLEAR. Sydney, May 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 it is regarded as more likely for investment in Australian Government securities of which New Zealand investors have been making considerable purchases lately. It is evidently considered cheaper to pay freight, insurance and other charges for shipment of the actual specie than transfer funds by New Zealand drafts on Australia at current rates of exchange.—Australian Press Association.
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Bibliographic details
Southland Times, Issue 20489, 17 May 1928, Page 6
Word Count
97NEW ZEALAND GOLD Southland Times, Issue 20489, 17 May 1928, Page 6
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