THE AUSTRALIAN LOAN.
INCREASE TO £28.000,000. NEW SOUTH WALES DEBT. (Received November 14, 10 p.m.) CANBERRA, Nov. 14. It is now revealed that the Premier of New South Wales, Mr. J. T. Lang, secured the consent of the Loan Council to an increase in the conversion loan now on tho market from £27,000,000 to £23,000,000 before presenting his motion for the withdrawal of New South Wales from the council. It is now stated that Mr. Lang needed £900,000 to meet maturing New South Wales securities. AN IMMEDIATE ISSUE. STATEMENT BY TREASURER. CANBERRA. Nov. 14. When announcing the terms of the Commonwealth redemption loan, Mr. J. A. Lyons, acting-Federal Treasurer, said it was being issued immediately. The Government hoped the people would cooperate in meeting the country's urgent obligations. Mr. J. G. Latham, Leader of the Opposition, and Dr. Earle Page, former Federal Treasurer, congratulated the Government on accepting the advice of the Loan Council in this matter.
Dr. Page remarked that he thought it ludicrous that Australia's financial credit should be inferior to that of New Zealand.
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New Zealand Herald, Volume LXVII, Issue 20722, 15 November 1930, Page 11
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177THE AUSTRALIAN LOAN. New Zealand Herald, Volume LXVII, Issue 20722, 15 November 1930, Page 11
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