FEDERAL LOAN COUNCIL.

Press, Volume LXVI, Issue 20083, 12 November 1930, Page 11

FEDERAL LOAN COUNCIL.

MEETING AT CANBERRA.

ALL PREMIERS PRESENT.

(UKITED TULEGSAI'H—COPTMGHT.)

(Received November 12th, 12.30 a.m.)

CANBERRA, November 11. The Treasurers of all the States, including Mr J. T. Lang (New South Wales), attended a meeting of the lederal Loan Council, presided over by Mr J. A. Lyons, Federal Treasurer. Surprise that Sir Kobert Gibson, the chairman of the Commonwealth ISank Board, had not been invited to attend was expressed by the Premier of Tasmania, Mr J. C. McPhee, on his arrival at Canberra. The meeting, he said, was of a most vital nature, and it niigiit have been expected that Sir Robert Gibson would be asked to be present in an advisory capacity. The early proceedings of the Council were formal. No official statement was made after the first No^sion. MR LANG'S ATTITUDE. SUGGESTION OF WITHDRAWAL. (Received November 11th, 0.5 p.m.) SYDNEY, November 11. The "Daily Guardian's" Canberra '■orrespondent states that as a first step in his promised challenge against the binding character of the financial agreement, Mr .J. T. Lang, Premier of New South Wales, intends to withdraw from the proceedings of the Council, which meets to-day. The correspondent also states that the Acting-Treasurer (Mr .1. A. Lyons) may ariplv to the Hi.?h Court for an injunction to restrain Mr Lang from borrowing without the I>oan Council's authority. AUSTRALIA'S CREDIT. DRAFTS REFUSED IN E.'.ST. UKITED PRKSS ASSOCIATION BT KLrCTBTC TELEGRAPH COPTaIGHT > (Received November llth. 5.5 p.m.) SYDNEY, November Ti. A Japanese merchant just return;*! fiom his homeland states that it is difficult to complete business transactions in China and Japan. Good* are plentiful and cheap, but when the sellers learned that payment was intended with Australian credit drafts these were refused. and the arrangements were not completed. UNIQUE TELEPHONE CONVERSATION. LONDON TO AUSTRALIAN TRAIN. IUJfITED PRESS ASSOCIATION --BT ELECTRIC TEI.ISQBAPH —COPTRinHT.) (Received November 11th, 10.50 p.m.) SYDNEY, November 11. A unique telephone conversation has been carried out. It appears that Mr J. 11. Scullin in London telephoned to Mr J. E. Lyo as, the Federal Treasurer, who was on the Melbourne, express. The train was Btopped at the small station of Nubba, near Harden. Mr Lyons was awakened at 3 o'clock in the morning, and wont to the telephone on the stat'on and chatted with Mr Scullin. The conference of the New South Wales Country Press Association which opened to-day, sent a telegram to Mr J. A. Fenton, Acting-Prime Minister assuring him of support in any action taken to retain Australia's good name.