LOAN FOR SPAIN

Greymouth Evening Star, 16 May 1939, Page 2

LOAN FOR SPAIN

ASS 11 RANCES DEMANDED

(By cable —PRESS ASSN. —COPYRIGHT.]

LONDON, May 15

The Brussels correspondent of the “Daily Express” says M. van? Zeeland., the former Prime Minister and director of the Belgian National Bank, is negotiating a reconstruction loan of /j:20,000,000 to Spain on behalf of the Mendelssohn Bank of Amsterdam, and Lazard’s International Banking Firm.

They, are demanding General Franco’s assurance that he will not join the military pact, between Italy and Germany, and in case of war that Spain will be neutral.

INTEREST IN FRANCE

LONDON. May 15. The Paris correspondent of “The Times” says that the Ministries of Finance and Foreign Affairs deny that a Spanish loan is being issued on the French market, or that foreign hankers are conferring on the matter. The communique does not deny that informal talks are progressing about credits to General Franco.

It is evident that the Spanish Government wants money for reconstruction. Equally, French financial interests, which long for a big stake in Spain, want to participate, but the French Governnient will not. allow mans to Spain, until Spanish indepdndence is assured.

Reports from the Continent suggest that not’only French, but Belgian. Dutch, English and Swiss Banks are interestsd.

VICTORY’ PARA DU

LONDON, May 15

In the Commons, Mr. Butler an nounced that the British Ambassado had accepted an invitation to attem General Franco’s victory parade.

Liberals and Labour members hea edly dissented.

FRONTIER FORTIFICATIONS

GIBRALTAR, May 15

Five hundred Spanish troops are reported to be digging trenches ami constructing fortifications at. La Linea