THE SEVENTY MILLION LOAN
CABLE CItmCISED
(Special to “Northern Advocate.”) AUCKLAND, This Day.
A London' cable of December 14 stated that financial circles do not comprehend Sir Joseph Ward’s reference to “a very important London transaction.” It is surmised that when he outlined the scheme for borrowing £70,000,000, he overlooked the fact that £24,000,000 four per cent, consols fall due for repayment on November 1, 1929. “Ridiculous,” said the Hon A. J. Stallworthy, when the cabled interpretation was referred to him, prior to departure for Wellington last evening, “Sir Joseph Ward had certainly not forgotten what money was falling due,” continued the Minister, “Whatever the nature of the- position in London, guardedly referred to by the Prime Minister during the debate on the Appropriation Bill, the falling due of £24,000,000 New Zealand loan money had nothing to do with it. ’ ’ More than that, he could not say. The Hon, J, B. Donald refused to discuss the matter, saying it was purely a question for Sir Joseph.
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Bibliographic details
Northern Advocate, 17 December 1928, Page 6
Word Count
166THE SEVENTY MILLION LOAN Northern Advocate, 17 December 1928, Page 6
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