IN A TIGHT CORNER

Hawera Star, Volume L, 13 February 1931, Page 5

IN A TIGHT CORNER

APPEAL MADE TO BRITAIN REPUDIATION OUT OF STEP WESTKALIAN PREMIER’S PLEA. i-iiilr.. 1 r cw - .-IMXlOlttl.iwu—isy Jutocwa- lcietfru|ji* CANBERRA, Feb. 12. Sir James Mitchell, Premier oi West Australia, has sent a cablegram to London for publication in the newspapers appealing to the British investors for assistance for the Commonwealth. The appeal emphasises the fact that repudiation talk in Australia is resented by 80 per cent of its citizens. “We are in a tight corner, having 2,000,000 unemployed due to the sudden drop in export values,” says Sir James. “We are British people who are holding Australia for the Empire. We feel ive have a right to ask help from you, especially when Britain is lending freely to other countries Yvhich arc not more British and are not offering better security.”

DROP IN BANK SHARES.

DOMINION HOLDERS PENALISED. Tns» .looucmuo. CHRISTCHURCH, Feb. 12. The local branch of the Bank of New South Wales to-day advised the Chris tchur oh Stock Fix change that the bank had declared an interim dividend of 9s per share in Australian currency at the date of payment, February 26. immediately on recepit of this information local buyers who had offered £26 dropped their bids to £22. The effect of this method ot payment is that shareholders on New Zealand and English registers are heavily penalised those on the New Zealand register to the extent of approximately Is 6d per share on to-day’s exchange rates.