COMMONWEALTH'S LOAN

Taranaki Daily News, 13 December 1930, Page 7

COMMONWEALTH'S LOAN

CONFIDENCE IN SUCCESS

MR. FENTON STIRS HOUSE

‘‘RESPONSE MAGNIFICENT” LARGE PROPORTION IN HAND By Telegraph—Press Assn.—Copyright Rec. 12.3'5 a.m. Canberra, Dec. 12. The Acting-(Prime Minister, Mr. J. E. Fenton, stirred the House of Representatives to-day by expressing the confident opinion that the £28,000,900 loan would be over-eubscribed. He declared that the response all this week had been magnificent. Over £18,000,000 was already in hand, which was sufficient to cover the Commonwealth’s war loan commitments due on Monday. The remainder ,of the loan is required for State obligations maturing at an early date. It is ' expected there will be a rush of applications on Monday, Which is the closing date.

RUMOURS OF A COALITION. AN EMPHATIC DENIAL GIVEN Canberra, Dec. 12. An emphatic denial of the Press report that the formation of a coalition Government was suggested at a meeting of the Labour Party "was given by Mr. Lyons in the House of Representatives. In trenchant language Mr. Lyons declared that the report was a lie from beginning to end. Incidents at the meeting of the Federal Labour caucus, it is understood, led to a further serious disagreement among Ministers on the question of finance and the passing of. a resolution, despite the protests of Mr. Lyons, appointing Messrs' Theodore and Curtin the party’s delegates to the discussion on financial matters with the Cabinet.

The Herald says that Mr. Lyons challenged the left wing to submit a definite motion of no-confidence in the Ministry. Thia was not accepted. The recommendation by Cabinet that legislation be introduced immediately to provide for an advance to farmers of 2s 6d per bushel for wheat f.0.b., Or approximately 2s at country sidings Was rejected by the Labour caucus, which instructed the Minister , to amend the legislation to provide for an advance of 3s f.o.b. or 2s 6d at country sidings.