BIG DEAL WRECKED
CREDIT AGREEMENT OFF BANK DENIES NEGOTIATIONS By Cable.—Press Association.—Copyright LONDON, Saturday. The “Daily Express” says that Mr. Reginald McKenna, chairman of the London Joint City and Midland Bank, signed an agreement on Wednesday with the Soviet Trade Delegation under which the bank was to grant a credit of £10,000,000 for trade purposes. It is stated that hut for the raid negotiations for important orders would already have been begun. The directors of the London Joint City and Midland Bank have issued a statement to the Press to the effect that the report of a £10,000,000 credit agreement with the Soviet Trade Delegation is incorrect. Nevertheless, Sir Allan Smith, chairman of the management board of the Engineering, and Allied Employers’ National Federation, states that the agreement was reached. He said it was regrettable that the raid had been carried out at this moment. Eventually it might do good, but it would necessarily delay orders which would have been placed in Britain as a result of the agreement.—A. and
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Sun (Auckland), Volume 1, Issue 45, 16 May 1927, Page 9
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170BIG DEAL WRECKED Sun (Auckland), Volume 1, Issue 45, 16 May 1927, Page 9
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