SOUTH AUSTRALIAN LOAN

Otago Daily Times, Issue 14281, 1 August 1908, Page 9

SOUTH AUSTRALIAN LOAN

INQUIRY DEMANDED. Prsss Association—By Telegraph—Copyright. ADELAIDE, July 31. The firm which was negotiating the loan terms -with Lloyd's Bank explaiss that the ■South Australian Government is open to a. charge of breach of faith through the action of ite London representative, Thefirm's efforts were the result of requests from more than one Treasurer to compete against the so-called London financial ring. It was not pretended that it or anyone v else could do without brokers, who are just as necessary in connection with the flotation of 'loans as tea. dealers in the distribution of tea. The firm succeeded in arranging the business in. question with the largest bank in Great Britain, and some broker of high standing Had made absolutely possible what was said, to be impossible. The reason for the failure of the negotiations is one for Government investigation. The firm has already intimated that it intends making no claim for commission, but it demands, for the oredit of South Australia, that inquiries shall bo made by the Government as to the reason the London representative of South Australia did not sign the agreement.