GOLDFIELDS DISPUTE

Southland Times, Issue 22471, 6 November 1934, Page 7

GOLDFIELDS DISPUTE

CANCELLED CONCESSIONS. AN AGREEMENT REACHED. (United Press Assn.—Telegraph Copyright.) Moscow, November 4. An agreement settling the Lena goldfields dispute has been signed on behalf of the Soviet and the company. The price is believed to be between £2,000,000 and £3,000,000. The Soviet had cancelled the company’s mining concessions, alleging a breach of contract. The company referred the issue to arbitration in England and was awarded £13,000,000, which the Soviet declined to pay, offering £1,000,000 whereas the company asked for a minimum of £3,500,000. HOW PAYMENTS WILL BE MADE. (United Press Assn.—Telegraph Copyright.) (Rec. 9.20 p.m.) London, November 5. The Moscow correspondent of the Daily Telegraph says that the payments under the Lena settlement will be £50,000 on ratification, 20 half-yearly payments of £92,500, beginning on May 1, 1935, and 20 further half-yearly payments of £55,000. It is believed that the settlement will open the way for negotiations for an Anglo-Russian treaty. SOVIET SEEKS MARKETS EFFORT TO RE-ESTABLISH CREDIT. (United Press Assn.—Telegraph Copyright.) (Rec. 9.20 p.m.) London, November 5. The diplomatic correspondent of the Daily Telegraph says of the Soviet’s anxiety to re-establish her credit in the eyes of western Powers that recently there has been much evdence that her entry to the League was symptomatic of activity in the commercial field. She is seeking a reputation for dependability by the punctual observation of undertakings. Moscow is becoming increasingly interested in the cultivation of the British market since the Hitler regime in Germany virtually extinguished the former extensive Russo-German trade, a large portion of which is now coming to Britain,