OGADEN FRONT.

Auckland Star, Volume LXVI, Issue 205, 30 August 1935, Page 7

OGADEN FRONT.

ITALY'S DISPOSITION. Troops on Arrow-Head Line Of 240 Miles. i FINANCE TOR LONG CONFLICT. (United r.A.—Elcctric Telegraph—Copyright) LONDON, August 29. The "News-Chronicle" special correspondent at Addis Ababa says Italian troops have taken up positions on a 240 miles arrow-head front in the Ogaden Desert. Dispatclics from Bolzano . state that after a meeting of tlie Italian Cabinet there a communique was issued. This, inter alia, enumerated financial and other measures that were decided upon. The "Daily Mail" correspondent points out that these measures clearly arc calculated to put Italy in a position to wage a European war if necessary. The most important is a decree for tho unconditional confiscation of all foreign credits held by Italian subjects, tho forced conversion of all foreign securities and Italian bonds issued abroad and held by them into nine years' 5 per cent Italian Treasury bonds. A further measure lays down that for a period of three years no industrial or commercial company can pay a dividend exceeding 0 per cent. All dividends will be subject to a 10 per cent tax. The position in regard to food supplies is described as satisfactory owing to the abundant harvest, but it is added that future industrial importations of a civil character must be subordinated to the nation's military needs. The "Daily Mail" correspondent says the measures enumerated in the communique will operate on September 1.