HEADWAY MADE.

Auckland Star, Volume LXII, Issue 148, 25 June 1931, Page 7

HEADWAY MADE.

DEBT MORATORIUM. Diplomatic Negotiations in Progress. ME. HOOVER'S BUSY DAY. (United ''.A.—Electric Telegraph—Copyright) (Received 0.30 a.m.) « WASHINGTON, June 24. The Secretary of State, Mr. H. L. Stimson, in a formal statement on Wednesday, said that the broad outlines of Mr. Hoover's debt moratorium would not.be departed from. He added that substantial headway was Hing made in the diplomatic negotiations to work out the many details which must necessarily be adjusted in so large a subject. While the President, Mr. Hoover, devoted yesterday to energetic efforts to hasten the acceptance of his reparation proposal, the Federal Reserve Board was credited with considering the grant of a substantial short-term credit to the Reichsbank through the New York Eeserve Bank. The Administration appears unwilling to heed the Democrat party's appeals for an extra session of Congress, but it seems probable that if the suspension of foreign payments is approved before the next payment day, December 15, Congress will have to assemble some weeks prior to that date. Senator B. P. Harrison (Democrat, Missouri) proposes a political armistice, in order that partisan issues may be abandoned during the discussion by Congress of Mr. Hoover's proposals.