EXPORT CREDIT FOR N.Z.

Dominion, Volume 32, Issue 244, 13 July 1939, Page 9

EXPORT CREDIT FOR N.Z.

Reported Finalizing Of

Details

LAST-MINUTE TALKS OF MR. NASH

Has Conference With Mr. Montagu Norman

By Telegraph.—Press Assn.—Copyright.

LONDON, July 11

The New Zealand Minister of Finance, Mr. Nash, and the Governor of the Bank of England, Mr. Montagu Norman, conferred this afternoon to finalize details of an export credit which is believed to be on the lines of the message cabled on July 8.

The message from Loudon referred to stated: “It is understood that an abrupt decision by the New Zealand Finance Minister, Mr. Nash, to postpone his departure for New Zealand is due to a desire to await a reply from Mr. Savage as to whether the Government is satisfied with an offer by Britain of arms credits and export credits facilities.” It was stated that Mr. Nash had fixed yesterday as the new day of his departure.

STATEMENT AWAITED

Radio-Telephone Talk With

Mr. Savage

Finality in his negotiations m London had not been reached last night by the Minister of Finance, Mr. Nash, who reported progress in a radio-telephone conversation with the Prime Minister, Mr. Savage, earlier in the evening. Mr. Nash told the Prime Minister that he still hoped to be able to complete all details in time to catch the Queen Mary at Southampton for New York. “I told him to stay there till all negotiations were completed,” said Mr, Savage. "He said he hoped to be able to catch the liner but that would depend on what progress was made.” Mr. Savage said that when all negotiations were finished, a full statement would be issued simultaneously in New Zealand an'd in Britain. All aspects of Mr. Nash’s mission were so closely in-ter-related that till finality was reached he was not in a position to detail progress on any one of them. This statement might be expected reasonably soon.

Mr. Savage also spoke with Mr. Nash by radio-telephone on Tuesday night. Ho said that reception was good, and he was able to converse with ease.