IRISH REPUBLIC FUNDS
AMERICAN SUBSCRIPTIONS j ‘•V'-'i ’ DISPOSITION ARRANGED (Australian and N.Z. Cablo Association.' (Received Aiay 13, 10 a.m.) NEW YORK, May 12. The Supreme Court has decided that £500,000 should be returned pro rata to tho subscribers to tile £1,200,000 Irish Republic funds, the remainder oi the sum having been distributed for tho purposes for which the money was raised.
The decision means that the original subscribers receive back approximately 41 £ per cent, of their subscriptions. The decision points out that the Irish Free State is not the successor to the Republic, but to the do jure Government of Britain in Ireland. The Republic, moreover, was never formed. Therefore, both parties have no title to these funds, and since the Government of Britain lias made no claim, the only persons entitled 1 to tho money are the original subscribers.
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Bibliographic details
Poverty Bay Herald, Volume LIII, Issue 16339, 13 May 1927, Page 7
Word Count
140IRISH REPUBLIC FUNDS Poverty Bay Herald, Volume LIII, Issue 16339, 13 May 1927, Page 7
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