GRAVE POSITION
SHORTAGE OF LOAN MONEY (Received Fob. 3, 11 a.m.) - SYDNEY, Feb. 3. A conference was held during the week-end between the Prime Minister, . Mr. Scullin, the Federal Treasurer, Mr. Theodore, the Premier of New South Wales, Mr. Bavin, and the State Treasurer, Mr. Stevens, concerning the grave- financial position of New South Wales, due largely to the prolonged, disastrous coal dispute and the serious decline in wool prices. The discussions were held in private. Mr. Bavin stated afterwards that the State's difficulty was in obtaining loan money for a continuance of public works. If ‘money for this purpose could not he obtained drastic retrencdi- - jaemt would have to be , considered.
N.S.W. FINANCES
Pinallty, however, had not been reached. '• The Prime Minister bad emphaeised the desirability of finding a settlement of the coal dispute as an incentive to investment loan issues and (the restoration of confidence in Australia. .'
Mr. Scttllin described the whole problem of finance for all the States as very serious. The conference has not concluded.
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Bibliographic details
Poverty Bay Herald, Volume LV, Issue 17174, 3 February 1930, Page 7
Word Count
169GRAVE POSITION Poverty Bay Herald, Volume LV, Issue 17174, 3 February 1930, Page 7
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