NEW LOAN.

Auckland Star, Volume LXV, Issue 126, 30 May 1934, Page 7

NEW LOAN.

AUSTRALIAN ISSUE. £12,000,000 Internal Flotation Next Week. LOWEST TERMS EVER OFFERED (United P.A.—Elcctric Telegraph—Copyright) (Received 11 a.m.) CANBERRA, this day. Mr. J. A. Lyons announced that the new loan of £12,000,000 will be opened nerct Tuesday, and will close not later than June 18. The rate of interest will be 3i per cent, and the issue price £98 10/'. Tho loan will be repaid at par in 14 years. The average yield to the investors will be £3 7/8 per cent. These terms are the lowest on which a new Commonwealth internal loan has ever been offered.

HOUSES FOR WORKLESS.

NEW SOUTH WALES SCHEME. (Received 10 a.m.) SYDNEY, this day. The New South Wales State Cabinet has agreed on a comprehensive scheme for the housing of unemployed families throughout the State. -It is proposed to erect weatherboard houses of an inexpensive type in suitable districts. As a preliminary the Government has allocated £200,000. to the scheme.

FEDERAL ELECTIONS

SEPTEMBER 22 MAY BE DATE. (Received 11 a.m.) SYDNEY, this day. The "Sydney Morning Herald" Melbourne correspondent says that September 22 will probably be the polling day in the coming Federal elections. MR. LATHAM'S FUTURE. POLITICS FOR THE BENCH? CANBERRA, May 29. It is reliably stated that Mr. J. G. Latham, Federal Attorney-General, now returning from Japan, will retire from politics before the next general election. His scat (Kooyong, Victoria), possibly will be contested by Mr. R. G. Menzies, Victorian Attorney-General. Mr. Latham is regarded as the most likely successor of Sir Frank Gavan Duffy, Chief Justice of the High Court of Australia, who is on the eve of retirement.

TIMOR'S IMPORTANCE.

AUSTRALIA WATCHFUL,

CANBERRA, May 29.

Tho suggestion that Japan is negotiating for tli'e purchase of the Portuguese section of Timor Island is being carefully watched in Canberra. It is recognised that if Japan controlled territory in Timor she would be able to extend her sphere of naval influence farther south than she can now, while the use of Timor as a stopping place for air services between England and Australia is regarded as, most important.

It is believed that the Commonwealth Government will act sin conjunction with the British Government and take immediate action to ascertain whether tlio island is available for purchase.