AUSTRALIAN LOAN CONVERSION.
FINANCIAL DANGERS. STRONG CRITICISM BY "NEW STATESMAN." LONDON, June 18. General uneasiness as to the future of the gilt-edged market, which many contend has already passed its zenith, has caused the "New Statesman" bitterly to attack the Australian Government. It declares: "Mr J. A. Lyons (Prime Minister) may be telling Australia that the loan conversion has been wonderfully successful, but actually he should confess defeat, and warn the people of the financial dangers ahead. It is criminal that Australia is not converting her debt into lower interest long-term issues. The Australian statesmen dare not tell the electors that long-term issues cannot be raised in London at a better rate than 4£ per cent., therefore they are taking refuge in shortterm issues, and dealing piecemeal with high interest loans which, for Australia's good, should immediately be converted at the best rate available. The authorities are merely piling up trouble five years hence, when money may be dearer and the seasons bad."
MEAT INDUSTRY OF N.S.W. , COMMISSIONER APPOINTED. (Received June 19, 9.40 p.m.) SYDNEY, June 19. The New South Wales Government announces the appointment of Mr J. Merrett as Meat Industry Commissioner. His salary will be decided later. Mr Merrett was formerly secretary and accountant to the metropolitan abattoirs. The plicants included many from New* Zealand and other parts of the world.
SHIPPING FACILITIES. CONFERENCE AT SYDNEY. (Received June 19, 9.40 p.m.) SYDNEY, June 19. Representatives of shippers and shipowners in all parts of the Commonwealth met at Sydney for the annual freight conference. It is understood that the Blue Star line is desirous of entering the Australian trade with one ship a month.
MR C. ULM'S PLANS. TAKE-OFF TO-MORROW. (Received June 19, 9.40 p.m.) SYDNEY, June 19. Mr C. T. P. Ulm and his co-pilots, G. Allen and P. Taylor, expect to take-off in the monoplane Southern Moon for England on Wednesday. The first leg of the flight will be from Sydney to Derby, Western Australia, and it is expected to take 21 hours. -^
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Press, Volume LXIX, Issue 20886, 20 June 1933, Page 9
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336AUSTRALIAN LOAN CONVERSION. Press, Volume LXIX, Issue 20886, 20 June 1933, Page 9
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