FINANCIAL OUTLOOK

Wanganui Chronicle, Volume 76, Issue 114, 17 May 1933, Page 7

FINANCIAL OUTLOOK

AUSTRALIAN CONVERSION THE POSITION CHANGED EUROPEAN MISGIVINGS MR. S. M. BRUCE’S REPORT (By Telegraph—Press Association—Copyright) Received May 16, 11.20 p.m. SYDNEY, May 16. It. is understood that Mr. Bruce. Australian Resident Minister in Lon don, who recently reported favourably on the prospects of a further convcr sion involving a large proportion of Australia’s overseas loans, has now intimated that the position has com pletely changed during the past f6w days owing to the unsettled conditions in Europe, and the possible failure of the Disarmament Conference, and other disturbing factors. LONDON COMMENT Received Mav 16, 11.45 p.m. LONDON, May 16. The Financial Times declares that the new issue ban is not blocking the way to the Australian conversion. The sole reason for the delay in producing the scheme is the present position of the gilt-edged market. Recent European developments have created such nervousness that it is felt that the time is not opportune Tor any major operation. Australia must have a propitious investment market for her to succeed. QUESTIONS IN COMMONS SIR J. SIMON'S REPLIES. VERY GUARDED WORDS. [ British Official Wireless.] RUGBY, May 15. Questioned in the House of Commons regarding the [Disarmament Conference, Sir John Simon referred to the postponement of the meeting of the General Commission owing to the recall of the German delegate to Berlin, and said that in tho circumstances he preferred to make no statement at the present juncture. > Asked if he would make an early statement in the House on the situation tn prevent alarmists’ rumours being spread. Sir John Simon said that if a situation arose which called for a statement it would be made. He was later asked whether his attention had been drawn to the declaration of the German Foreign Minister implying Germany’s intention to rearm, thereby breaking the Versailles Treaty. Sir John Simon said he had seen the article, but could make no further statement pending a resumption of the General Commission. Further asked whether the speech made by Lord Hailsham in the House of Lords represented the views of Cabinet, Sir John said that he had no reason to hesitate to answer, but he preferred to have the question on paper in the ordinary way. Sir John Simon answered several questions relating to the situation at Danzig. He said that he had discussed the matter with the High Commissioner a short time ago, but had not received information regarding the most recent events beyond what had appeared in the Press, and he could not usefully make any statement at present. Asked whether he would consider sending a British warship to Danzig or would consider the acceptance by Britain of a mandate over the city, he said that no question of mandate arose under the constitution of Danzig. It took more than one party to make a mandate. A courtesy visit of one of His Majesty’s ships to .Danzig during the normal summer cruise had been arranged for a date in June, but he saw no reason for sending a warship at the present time. Sir John Simon added 1 that when he recently saw the High Commissioner of Danzig, the latter deprecated alarmist reports circulated as to the possibility of serious disorders during the election. “Wc all very much hope that he may turn out to be right.” added Sir John Simon. Asked whether he could lay papers before the House regarding the Four Power Pact, Sir John Simon replied that, tho conversations had not yet reached the point at which he could usefully address the other parties with a view to publication of the. documents. Publication at the moment would not be in the general interest.