CASH WITH ORDER.
COLOMBO BANKS’ DEMAND. By Telegraph—Press Association ELTHAM, March 6. Australia's present unhealthy position is apparently having a direct | effect on New Zealand’s financial reputation with overseas firms. A Taranaki firm of merchants handling large tea consignments received a communication from Colombo stating i that all exchange banks in Colombo had decided to discontinue to discount bills on Australia and New Zealand as long as the prevailing instability lasts. Alternative suggestions are that a remittance should accompany the orders, or the establishment of sterling credit in London against which overseas firms could draw. The local merchants suggested the establishing of a letter of credit with Colombo banks.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/THD19310307.2.24
Bibliographic details
Timaru Herald, Volume CXXXIV, Issue 18820, 7 March 1931, Page 7
Word Count
109CASH WITH ORDER. Timaru Herald, Volume CXXXIV, Issue 18820, 7 March 1931, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Timaru Herald. 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