LONDON LOANS

Hawke's Bay Tribune, Volume XIX, Issue 220, 3 September 1929, Page 5

LONDON LOANS

THE ALLEGED EMBARGO AN INCORRECT REPORT. A feeling of apprehension pervades Parliament Buildings as a result of Friday's upheaval in the House relative to the alleged loan embargo, an incident which might even have led to the Government’s defeat. Cabinet was in session for over three hours yesterday afternoon. Numerous matters relating to prospective legislation were discussed, but it is reliably reported (states tho “Dominion”) that lengthy consideration was also given to developments likely to arise out of Friday’s discussion on financial matters.

A report was current that the Reform Party proposed dividing the House on the question that the file relating to the loan and conversion in January should be referred to the Chief Justice (Hon. M. Myers) as arbiter, and that he should'make a special, report to the House. The suggestion has no official basis as far as the Leader of the Opposition (Right Hon. J. G. Coates) is concerned. “It is just a kite,” he replied answer a question yesterday, “lhe course suggested was never contemplated by me.” However, it is said to be certain that the matter of the alleged embargo will not be allowed to rest in its present unsatisfactory position, and numerous opportunities will present tnemsellves within tho next few weeks for challenging Sir Joseph Ward's constantly-repeated assertion that some action on the part of the Hon. W. J). Stewart, his predecessor as Finance Minister, prevented him from going on the London market for 18 months.