NEW ZEALAND LEGISLATION

Nelson Evening Mail, Volume LXVI, 25 May 1933, Page 7

NEW ZEALAND LEGISLATION

INTEREST REDUCTION LONDON PARER’S COMMENT (United Press Association—By Electric Telegraph-Copyright) (Received 25th May, 10.55 a.in.) LONDON 24t1; May. The ‘‘Daily Mail's” city editor ,says tliai English investors in local New Zealand loans are awkwardly placed owing to New Zealand’s reduction of 20 per cent, from interest coupons over 41,- per cent, applicable if any interest is paid prior to Ist January. 'Apparently bonds which paid interest in New Zealand had been sold in London and buyers were unaware of the above disability. Slockbrokera are asking Sir Thomas Wilford to obtain a ruling, hoping that the Jus - tice of their claim will be recognised. They also desire an assurance of Britain’s request for Australia and New Zealand milk restriction, asking that exports for 1933 shall not exceed those of J. 532. Denmark and Holland have agreed to the principle of a 20 per cent, reduction, but- are desirous of equitable treatment when the situation is re-examined The fact- that Britain is asking foreigners to institute considerably higher restriction than the dominions, has pleased dominion representatives, who hope this will be regarded as a precedent when a voluntary reduction in butter and cheese is sought.