LAUSANNE

Nelson Evening Mail, Volume LXVI, 20 June 1932, Page 5

LAUSANNE

BUZZ OF EXCITEMENT SOME MEASURE OF AGREEMENT “FIRST REAL STEP” 'United Press Association—By Electric Telegraph—Copyright) LONDON, 17th June. As the result of last night’s private conversations between representatives of the principal Powers, Mr MacDonald to-day summoned journalists, and read an “important document,” signed by representatives of the five principal creditor Powers, to which Dr. von Papen, after the resumption of the private plenary sitting 1 , added his blessing and hope that the conference would not disappoint the aspirations of the world. The fact that the conference is able to resume with some measure of agreement created a buzzof excitement, a pleasant contrast to yesterday’s unpromising start. After the morning session Mr MacDonald told the Australian Press Association that the British delegation was out for business, because the world was in such a state that any unnecessary delay was unthinkable. To-day’s decision involves about £7,000,000, due for' payment between Ist and sth July under The Hague agreement. France’s signature to the moratorium declaration is interpreted as meaning that the conference has started a long and fruitful life, despite the fact that M. Herriot’s speech revealed that the Anglo-French views were as divergent as ever, because France opposes the clean slate. Sir John Simon stated that the declaration obviated the necessity for an immediate moratorium, thereby dispelling the anxiety of further delay. “It is,” he said, “the first real step towards a general European settlement.” The declaration says: “Deeply impressed with the increasing gravity of the economic and financial perils overhanging the world, we are convinced that° these problems require a final or definite solution, which must be sued henceforward without delay."’ Sir Thomas Wilford notified New Zealand’s adherence to the Five-Power declaration, and added that lie was convinced the delegates meant business and were-earnestly endeavouring wit.i out procrastination to achieve a European settlement and permit the early, confrontation of America. Mr Latham lias written to Mr MacDonald that Australia accepts the document signed by the creditor Powers and gladly adopts the same course.

“DEAD AND BURIED”

PARIS PRESS VIEW OF REPARATIONS

PARIS, 18th June.

Newspapers here, commenting on Lausanne, assumes that both conditional and unconditional reparations payments may be regarded as dead and buried.

“Pertinax” suggests that there is a possibiitv of the Conference lasting six months.

FAVOURABLE DEVELOPMENTS

GOOD EFFECT ON LONDON STOCK

MARKET

(British Official Wireless)

RUGBY, 18th June

Sir John Simon lias returned to Geneva from Lausanne, and will probably remain some days, during which time the Disarmament Conference, it is hoped, will register definite, progress helpful towards tiie general situation. No meetings are taking place at Lausanne to-day or to-morrow, although there will be numerous private conversations.

The report of favourable developments at Lausanne affected the London stock market during the week-end. The general tone had been firm, but this particular influence caused a sharp rise }n German loans yesterday. The average'rate of discount at which three months treasury bills were allotted yesterday constitutes a post-war record.