GERMAN DEBTS
LANCASHIRE CREDITORS REJECTION OF AN OFFER British Wireless RUGBY, Sept. 13 Lancashire spinners at a meeting in Manchester passed a resolution recording that they were not in favour of accepting the German proposal with regard to outstanding German debts. The meeting advised that a special committee be set up to consider the question. It is understood that under the terms of the offer before the meeting German cotton yarn importers offered to pay their old debts amounting to £267,000 in 12 monthly instalments and earlier if the British Empire would increase its takings of German hosiery and gloves.
Further the Germans asked for a resumption of yarn supplies, the new business to be done at six months' credit instead of the usual 30 days' credit. The spinners decided that the proposed special committee should immediately consider the advisability of approaching coal and woollen industries to consider united action against Germany.
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Bibliographic details
New Zealand Herald, Volume LXXI, Issue 21906, 15 September 1934, Page 13
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152GERMAN DEBTS New Zealand Herald, Volume LXXI, Issue 21906, 15 September 1934, Page 13
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