LOAN CONVERSION

Wanganui Chronicle, Volume 75, Issue 177, 29 July 1932, Page 7

LOAN CONVERSION

DOMINION S PROSPECT MR. COATES AT OTTAWA IMPORTANT INTERVIEW FAVOURABLE OPPORTUNITY [By Telegraph—Press Association—Copyright] OTTAWA, July 26. Mr. Coates has expressed the opin ion that England’s successful £2,000, 00U,000 loan conversion may have an important bearing on New Zealand’s external interest charges. New Zealand owes Britain £24.000.000 representing 5 per cent, funded war debt. Mr. Coates considers that there is a prospect of reducing this to the same per cent, rate as the British conversion loan. The presence of Mr. Neville Cham berlain at Ottawa happily p*ovides a favourable opportunity for discussing the matter. If Mr. Coates’ efforts result in a conversion of the war debt owing to Britain New Zealand will save £36,000 a year in interest, roughly £lOOO a da v, DOMINION MEAT PROPOSALS BRITISH MINISTERS MEET. OTTACA, July 27. The Dominion delegation leaders, with Mr. S. M. Bruce as spokesman, met Messrs Neville Chaberlain, Walter Ruucian, and Sir John Gilmour, and presented the Dominion’s meat pro posals. Inasmuch as the plan is a considered and unanimous Dominions’ scheme, the delegations are convinced that Britain will ultiately give some concession. The Inter-Dominion Fruit Industry Committee met with the Dominion Ministers. Mr. Havenga presiding, and dis cussed the position and completed a uniform policy. COMMITTEE DISCUSSIONS THE INTERESTED COUNTRIES. OTTAWA, July 27. The meeting of the fruit delegates considered their concrete proposals in which Canada is chiefly interested in apples and to a lesser degree Australia and New Nealand. South Africa is interested in citrus and luxury fruits; Canada, Australia, and South Africa in pears; Western Australia and South Africa in fresh grapes. Australia is enormously interested in canned and dried fruits. The Empire proposals will now be submitted to the British delegates. Canada desires to postpone consideration of and base metals until next week. Australia ai\l South Africa alo::e are interested in sugar and wines, the discussion of wh|ch has not yet been fixed.