RUSSIA DEFAULTS.

Waikato Times, Volume 113, Issue 18927, 22 April 1933, Page 5

RUSSIA DEFAULTS.

TO FOREIGN BONDHOLDERS LABOUR OVERTURES, RETALIATION CONDEMNED, United Press Assn.—Elec. Tel. Copyright, LONDON, April 20. Russia, with £150,000,000 heads the list of defaulters, according to the annual report of the Foreign Bondholders’ Corporation, showing the total affected at £350,000,000 spread over 120 loans. The National Joint Counoil of Labour, representing Parliamentarians and the Trades Union Congress, telegraphed Moscow urging the immediate release of Messrs Thornton and MacDonald in the interests of Anglo-Russian friendship. It also issued a statement condemning the proposed British embargo. FRENCH PRESS OPINION. MORE SERIOUS TO RUSSIA* United Press Assn.—Elec. Tel. Copyright PARIS, April 20. The press gives prominence to the trial and the embargo. The latter, it is considered, will 1Y more serious In Its consequences K Russia than for Britain. EMBARGO ON COMMODITIES. TO TAKE EFFECT ON WEDNESDAY United Press Assn. —Elec. Tel. Copyright. RUGBY, April 20. It is announced on behalf of the Russian trade delegation "in London , that M. Ozersky, head of the delega-j' tion, and his two assistants will pro- , oeed to Moscow on Monday for. con- ; sultation with the Soviet Commissariat of Foreign Trade. The Anglo-Russian trade agreement expired last Monday. ( The embargo on commodities,, re- i presenting 80 per cent of Russian im- , ports to Britain, proclaimed yesterday, following the sentences on the British accused in the Moscow trial, is due to take effect next Wednesday. f

APPEAL FOR CLEMENCY. ON BEHALF OF TWO PRISONERS. (Official Wireless.) RUGBY, April 20. The Russian counsel for . Messrs Thornton and MacDonald, who were, sentenced to three years’ imprisonment respectively by the Soviet Court, intend lodging a petition for olemenoy with the Central Exeoutlve Committee of the Soviet.

SOVIET SOBERED. ; GREAT BLOW TO RUSSIA. ’ , . ' .. ‘ , ,;-.v ,/■'"* United Press Assn.—Elec. Tel. Copyright, LONDON, April 21. . . The Riga correspondent of the Times says Britain’s'decision, to pro hibit 80 per cent, of Russian imports has sobered the Soviet Government as • it did not Imagine Britain would go to such lengths for the sake of “self- - confessed wreckers” when Russia had satisfied British dignity by releasing the other accused men. The greatest blow to Russia Is the cessation of diplomatic Immunity for Its trade delegation in London. This, says the correspondent, was regarded as one of the Soviet’s greatest diplomatic accomplishments and Mos cow did not realise what the lapse of the trade agreement would also ,inr volve the cancellation of diplomatic immunity. “Russia has not been treated as a sovereign State hut is being bullied into subjection,” declared Mr George Lansbury, Leader of the Labour Party, In a speech at Retford., “I hope the working-class Soviet Government will ; prove superior to the British capitalist Government and send the menhome to demonstrate that they are not seeking revenge." Messrs Monkhouse, Cushny and Nordwall, the deported British en-, gineers, left Moscow last evening. Nordwall was accompanied by his wife. Members of the Embassy staff . and many foreign journalists bade them farewell.