MR. LANG AS CAPITALIST.

New Zealand Herald, Volume LXIX, Issue 21137, 21 March 1932, Page 16

MR. LANG AS CAPITALIST.

LOAN TO LABOUR ORGAN. DEBENTURES FOR OVER £13.000. Sydney lias been highly entertained by the official admission that Mr. Lang is actually one of "the horde of bondholders" against, whom he has disseminated the gospel of hato. The correspondent of the Argus states:—"lt was publicly stated that he had lent the Labour Daily, of which ho is a, director —'the director' is the common impression—£13,000. It was not realised by his supporters that he had so much wealth that he could further his propaganda in this generous way. "Any doubts (hey may have entertained of tho accuracy of the statement, as first published by a Sydney newspaper, were dissipated, however, when the Labour Daily itsejf admitted the accuracy of it. ]\!r. Lang did lend tho sum of approximately £13,000 to tho Labour Daily. Tho first portion of this amount was advanced in 1925, another instalment in 1928, and a further instalment last year. "Jl is further stated that Mr. Lang has deferred drawing interest until the paper has been enlarged as planned. The Premier recently searched t.lio records at tho registrar-general's office to ascertain the names of leading Nationalists interested in racecourses. The Daily Telegraph examined records at the same office and found tho record of Mr. Lang's debentures for £13,764. It also found that there was a provision in them that tho rights of the lender should not bo affected by the Moratorium Act or any other Act. 'ln Pitt Street among the brokers there is much amused talk of Shylocks and other pertinent points of the Premier's speeches upon money-lenders."