NEWFOUNDLAND’S DEBTS
PAYMENTS WILL BE MET NEGOTIATIONS FOR CREDITS. (United Press Association.) (By Electric Telegraph—Copyright.) MONTREAL, December 29. The British Treasury financial expert, Sir Percy Thompson, who has been loaned to the Newfoundland Government, said to-day: “Newfoundland will not default in its obligations in January. Britain’s oldest colony will not be the first to refuse payments on its debt.” He declared that negotiations for placing credits at the disposal of Newfoundland by Canadian banks had so far proceeded that he considered the situation saved. Sir Percy mentioned the Bank of Montreal, the Canadian Bank of Commerce, the Bank of Nova Scotia, and the Royal Bank of Canada as taking part in the Newfoundland credit. He refused to state the exact amount involved. When asked whether it approximated 2,000,000 dollars he gave neither confirmation nor denial.
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Otago Daily Times, Issue 21531, 31 December 1931, Page 11
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135NEWFOUNDLAND’S DEBTS Otago Daily Times, Issue 21531, 31 December 1931, Page 11
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