M. KRASSIN.

Star (Christchurch), Issue 16875, 27 October 1922, Page 6

M. KRASSIN.

DENIES RESIGNATION. By Telegraph—Press Association—Copy rig] Reuter’s Teiograma. (R-eceived October 27, 9 a.m.) BERLIN, October 26. M. Krassin denies that he has r signed the Soviet Trade Commissione ship. - Ho declared that the Soviet won again deal with the Urqukart agre

raent, when Anglo-Russian relations c " entered into a new phase. * t A previous message stated that the Labour Defence Council, under Lenin’s j, chairmanship, had declined to ratify the 0 i i-fjiihart-Krassin agreement because of o the unprecedented length of the con- e cessions, and in view of the Near East c situation. As a result of this, M. e

Krassin had resigned the Soviet ’Trade Commissionership. The agreement was signed between Mi- Leslie Urquhart, president of the Russo-Asiatic Company, and M. L. Krassin, of the Russian Trade Delegation, restoring the company’s rights to concessions in the Ural Mountains, of which a ninety-nine years’ lease was to be granted. The sum of £56,000,000 was involved in the deal. The mining properties concerned had been acquired from ten to sixteen years ago, when in a bankrupt condition. ! Some £10,000,000 had been spent in re- ! organising them, with the result that j when the revolution came in 1917 dej posits of coal, iron, copper, lead, zinc, • silver and gold were being worked on a huge scale by the four companies. According to a written statement by Mr Urquhart, the. production was 1.000.000 tons of coal and coke annually and 1 43,000 tons of copper, lead and zinc. The refineries at that time produced £1,000,000 worth of gold bullion a year. In consequence of confiscation by the Soviet Government the corporation, on formation, drew up a compensation claim for £1,100.000 worth of gold bullion in the works when seized, and £60,000,000 as the value of the mining property. Negotiations for a. resumption of work by the corporation were carried on with the Soviet Government by Mr Urquhart personally. He made at least one journey to Russia in the attempt, and also negotiated with M. Krassin, the London representative of the Soviet Government. In October of lost year lie announced, with apparent finality, that the conditions proposed bv the Soviet Government were such that it was impossible to make a contract to resume operations. In December following the Soviet Government itself proposed a resumption of the negotiations.