LANG CABINET

Nelson Evening Mail, Volume LXVI, 3 May 1932, Page 5

LANG CABINET

FURTHER DEFAULT IN OVERSEAS INTEREST COMMONWEALTH PAYMENTS NOW OVER THREE MILLIONS (United Press Association—By Electric Telegraph—Copyright) SYDNEY, 2nd May. A Canberra message states that Now Soutii Wales further defaulted in overseas interest amounting to £833,793. The Commonwealth Government has remitted the full amount plus exchange. The total amount now paid out on behalf of New South Wales is £3,058,993. (Received 3rd May. 9.45 tun.) LONDON, 2nd May. The Commonwealth has paid £655,086 interest and bank commission due on the Ist May on a. New South Wales per cent, loan maturing on Ist November, and a 6 per cent, loan maturing later. PRIVY COUNCIL CASE IF GOVERNMENT WINS (Received 3rd May, 9.20 a.m.) SYDNEY, This Day. In a speech Mr Concannon, Leader of the Labour Party in the Upper House, said: “If Mr Lang enters Federal politics, as ho may soon if things get worse, 1 hope Mr J. McGirr will be the new Premier.” Referring to payments of overseas interest, Mr Concannon said that if the Privy Council decision favoured the State Government the Upper House would go almost immediately. “We will then give thoso big business men and wealthy people who are crying about non-payment an opportunity to pay that interest themselves. Wo will see how they act.”

State income tax DOCUMENTS

COMPLIANCE WITH FEDERAL DEMAND SYDNEY2nd May. The Federal Government’s demand for access to State income tax documents was complied with as far as possible today by (he State Taxation Commissioner, Mr McMahon, who indicated that ho was handing over only those documents which he was able to produce within' the time limit allowed by the Commonwealth. (Received 3rd May, 9.20 a.m.) SYDNEY, This Day. Other taxation documents will be made available to the Commonwealth to-day. The notico served on Mr McMahon re quiring the production of all assessment notices'docs not expire until 12th May. It is understood the State G'ovprnmerit will not refuse to hand over these documents. Mr Lyons in a message to the Teachers’ Federation and the Public Service Association of New South Wales states: “No State trust funds will come into the possession of the Commonwealth Government. On 11th April the banks held only £85,000 for the New South Wales Government, which had previously withdrawn a million pounds in cash.” Mr Lyons says that the money included in the withdrawals must be amounts due to trust funds.