TRAFFIC IN GOLD
RESTRICTIONS HIN’EI) AT. DOOR OPEN TO THEFTS. By Telegraph—Press Association WELLINGTON, July 10. The business being done throughout New Zealand in the disposal ot old gold, while prices of the precious metal remains high, is causing' concern to the Mines Department and gold producers, as it has been discovered that alluvial geld is finding its way into the hands of unlicensed dealers. It is illegal for anyone but a licensed dealer such as a bank or an authorised person to buy alluvial gold, but it is feared that some hundreds of pounds worth of this metal has been disposed of to unlicensed dealers recently. The Dominion’s gold output is watched closely, and a record is kept of all alluvial gold purchased by licensed dealers. It is regarded as serious that any leakages should occur, for alluvial gold sold to unlicensed dealers would, it is stated, most likely have been come by dishonestly. It is possible a move may be made to tighten up the law concerning the traffic in gold. At present, a dealer may buy old gold or wrought gold, but he must be specially licensed to purchase alluvial gold.
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Bibliographic details
Timaru Herald, Volume CXXXVII, Issue 19231, 11 July 1932, Page 2
Word Count
194TRAFFIC IN GOLD Timaru Herald, Volume CXXXVII, Issue 19231, 11 July 1932, Page 2
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