WAR DEBT RE-ADJUSTMENT

Greymouth Evening Star, 12 November 1932, Page 11

WAR DEBT RE-ADJUSTMENT

MORATORIUM APPLICATIONS. [by CABLE —PBESS ASSN. —COPYBIGHT.J WASHINGTON, November 10. A long-awaited opening move . for War Debts readjustment negotiations materialised to-day when the British Ambassadors, Sir R. Lindsay and M. Claudet (French Ambassador), called on Mr Stimson, at. the State Department. The former, apparently, delivered a note that is mentioned in London despatches. In this the British Government requests an extension of the Hoover Moratorium and the postponement of payment of ninety-five million dollars principal and interest that tire due to America on December 15. ft is believed that M. Claudet discussed a similar note to be soon delivered regarding nineteen million dollars of interest that France owes on the same date.

In the absence of President Hoover, Mr Stimson declined to make any sort of comment. It is expected Mr Hoover will return to Washington early next week.

Greece lias already failed to meet her payment of 444,000 dollars due. Hungary has requested a postpone*raent of 40,000 dollars due in December. Germany has already received a postponement of 7,800,000 of mixed war claims.

The President, by executive authority, can allow a two-year postpone-

ment of the principal charges, but Congress must agree to any postponement of interest. LATER. Mr Stimson told the newspapermen to-day that the British debt note had been submitted to Mr Hoover, but it would not be made public for two days at least. PRESIDENTS TO CONFER. RUGBY, November 11. In the absence of other arrangements regarding the war debt payments. temporary suspended under the

moratorium, Britain will be under an obligation to resume the payments .to the United States on December 15. The amount due on that date consists of £13,469,178 at par. on account of interest, and £6,164,382 at par on account of principal. Newspaper despatches from Washington state that all official comment on the question of British debt payments is rigidly withheld. It is anticipated there will be. no comment until the incoming and outgoing Pre* sidents of the United States meet in conference, probably in the latter part of next week.