TO ISSUE WRIT
OVERSEAS INTEREST
COMMONWEALTH V. N.S.W.
A DEFAULTING STATE
United Press Association—By Electric Telegraph—Copyright. (Received 3rd February, lo a.m.) MELBOURNE, This Day. The Prime Minister, Mr. J. A. Lyons, announced that the Commonwealth to-day would issue a writ against New South Wales to recover £958,763 due for defaulted overseas interest. The Commonwealth "would take any other action within its 'power to compel New South Wales to honour its obligations!" Mr. Lang's moratorium proposals were not discussed by the Loan Council, but the general opinion among members was that Mr. Lang had no chance of achieving his object. Mr. Lyons described the proposal as "opposed to Australia's policy arid plan of reconstruction."
The Loan Council refused permission to Mr. Lang to issue £3,000,000 New South Wales bonds to finance a section of the Sydney City Railway.
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Bibliographic details
Evening Post, Volume CXIII, Issue 28, 3 February 1932, Page 7
Word Count
137TO ISSUE WRIT Evening Post, Volume CXIII, Issue 28, 3 February 1932, Page 7
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