DREADNOUGHT LOAN REFUSED
A STATE CONFERENCE. SYDNEY, March 31. It transpires that the Bank of New. South Wales and the Commercial Banking Company of Sydney offered Mr Fisher £2,000,000 at 3i per cent, to purchase a Dreadnought, but the offer was declined.
The announcement in the English cables that Victoria and New South Wales had offered a Dreadnought is evidently due to a misconception. A conference took place to-day by telephone between the Governments of New South Wales and Victoria in regard to their offer to the Prime Minister to bear their share on a per capita basis of the cost of presenting a Dreadnought. Mr Murray i(the Victorian Premier) subsequently stated thnt the position was a somewhat difficult one. Cabinet would decide at its meeting to-morrow what further steps should be taken. No formal reply had been received from tbe Prime Minister, nor had the other States announced their attitude, but it was understood they were disinclined to contribute. He would have a further conference with New South Wales to-morrow.
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