THE EARTHQUAKE EXAGGERATED REPORTS IN LONDON

Nelson Evening Mail, Volume LXIV, 19 June 1931, Page 2

THE EARTHQUAKE

EXAGGERATED REPORTS IN LONDON

HARM TO NEW ZEALAND LOAN

“Tim news of the Hawke* Bay earthquake created a profound impression in England, where the mere mention of an earthquake suggests something very serious indeed, - ’ said Mr A. K. Wright, the, Christchurch solicitor. on his return tVom a trip to Croat Britain (reports the “Press). “While it was perhaps difficult at once to exaggerate the appalling extent of the disaster, the manner in which some reports sent to the London papers was couched was such as to do New Zealand positive harm, particularly in (lie minds of tourists, investors, and possible settlers. The accounts were most alarming, and they drew a spirited protest from the High Commissioner. “Although the present condition of affairs in New Zealand, and our proximity to Asutralia, may have been responsible for the relative failure of the recent loan on the London market, I think it not at all unlikely that the great prominence given to the earthquake had a not unimportant effect on the leaving of such a large proportion of the loan in the hands of the underwriters.”

Til FO FUSION PROPOSAL Mr Wright said that the attempt of Mr Forbes and his Government to reduce expendituir and balance the Budget has been followed in England with keen interest and was appreciated by business men interested in New Zealand. Many of these men, in fact, regarded this attempt as the one bright spot in the Empire, evidence of a serious endeavour to regain economic stability. “In view of the present position of the parties,” lie added, “disappointment was felt that the overtures made to Mr Coates to form a Coalition Government were not accepted. It was felt that Hie situation in New Zealand was such as to call for a strong Government composed of the best men in the country to carry out the necessary but very unpleasant task of placing the finances in order.”

PRAISE FOR HIGH COMMISSIONER

Air Wright wished to mention also the appreciation which he had heard on all sides of the manner in which Sir Thomas Wilford was carrying out his important duties as High Commissioner.

“An able speaker, he has caught the ear of the English people as few men have done, and loses no opportunity to push New Zealand products to the fullest extent. His ability as a speaker and his personality seem to have combined to make him admirably fitted for this high office.