MR LANG’S DISMISSAL.

Waikato Times, Volume 111, Issue 18651, 1 June 1932, Page 7

MR LANG’S DISMISSAL.

COMMENT IN AMERICA. A FAVOURABLE REACTION. RISE in STATE SECURITIES. United Press Assn.—Elec. Tel. Copyright. NEW YORK, May 30. The New York Herald Tribune, commenting on Air Lang’s removal by the Governor, Sir Philip Game, from the Premiership of New South Wales, expresses the opinion “ that such a definite step by a British Crown officer in an autonomous Dominion Is excellent evidence that his action was backed by public opinion. “ The Governor’s decree may be no more than an Incident in a bitter struggle,” says the paper, “ hut It seems ominous of the end. British financial circles Immediately reaoted favourably, resulting in an improvement in Australia’s credit. “ The downfall of this troublesome provincial official has not been overlooked in -this 'oountry, for, with so much else going relentlessly down, Australian securities have risen about 15 points on the American markets. New South Wales bonds have nearly doubled in value.” The paper reviews Mr L&ng’s political career, particularly In regard to his repudiation activities and concludes: “ The recovery of International confidence, moral as well as financial, in the fundamental stability of Australia and her people, is ample compensation whatever, loss of local pride such an action may have cost.”

LATER. big BUILDING PROPOSITION. IF LANGISM DEFEATED. BLOCK TO COST £500,000United Press Assn. —Elec. Tel. Copyright. (Received June 1, 9.30 a.m.) SYDNEY, June 1. The City Mutual Life Assurance Society proposes to erect a building costing more Than £500,000 if the Lang party is defeated at the elections. , r . The managing director, Mr Crowiy, in making 'the announcement said they were waiting until June 11 to make perfectly certain if a reasonable Government would be in power before work on the new building commenced.