ALLIES’ CONFERENCE

Ashburton Guardian, Volume XLV, Issue 10179, 9 August 1924, Page 5

ALLIES’ CONFERENCE

NEW YORK EXCHANGE. EFFECT OF SETTLEMENT. (Per Press Association—Copyright.) (Received This Day, 9.10 a.m.) NEW YORK, August 8. Heavy buying of sterling is apparently based on the announcement that the Allies and Germans had reached a complete agreement regarding the defaults under the Dawes’ plan. This Bent demand hills up 5 cents, above yesterday’s level to .50, a record height for the year.

GOOD PROGRESS MADE. LONDON, August 7. Considerable progress was announced at the conclusion of to-day’s sitting of the Reparations Conference. The Germans agreed to consider the loan as a moral obligation, thereby satisfying one of the Reparation Commission’s essential conditions for the enforcement of the Dawes plan. It is also stated that the Dawes plan, on the request of the Germans, will be put into operation on October 5, instead of October 15. . Further progress was made in the discussion of the First and _ Second Committee' reports, upon which an agreement was virtually reached.

COURTESY CALLS.

GERMANS AND FRENCH. LONDON, August 8. Newspapers agree that the .discussions between tbe Allied and German delegations are making excellent progress. No serious hitch threatens. Dr. Marx and Dr. Stresemann exchanged courtesy calls with M. Herriot. It is the first time such exchanges have occurred since the war.