BRITISH & FOREIGN NEWS

Hokitika Guardian, 8 January 1926, Page 2

BRITISH & FOREIGN NEWS

. [Reuter Telegrams.] RUSH TO INVEST. LONDON, Jan. 7. Two large foreign loans have ..een snapped up most eagerly. One million sterling worth of Hungarian Land Alortgage Institute seven and a-ha!f per cent, bonds were issued at ninetythree yesterday. The issue was oversubscribed within an hour. To-day a list of four millions worth of seven and a-half per cent. Paulo Coffee Institute bonds was issued at 94. Tile issue closed in a few minutes, after scenes resembling football scrimmages. Several other large foreign flotations are imminent. The “Financial -\ews” says’: “Now that the embargo lias ceased on foreign lending, it is naturally to be expected that business during 1926 will return to a normal volume. It would Ik? hasty to assume, however, that foreign Government issues will reach volume of 1921. when they totalled £40,(519,009. Any overlending would immediately be reflected by a weakening in sterling exchange, thus necessitating a stiffening of the bank rate t as a counter check. Therefore, those, pace cannot be made too fast, whether the offerings ho on the Dominions’ or u;i foreign account, and the margin available for overseas investment cannot be ton far anticipated without the risk of the underwriters being left with big blocks at heavy costs to the borrowers.”

The “Financial Times” says; “In the gilt-edged market, the monetary position is still a cause of uuea.sine.ss.The prospect of heavy colonial and foreign borrowing in the early future is regarded with misgiving.” SOVIET AND IiNDIA.

L" The Times ” Service.] (Received this day at 9-30 a.mA LONDON, Jan. 7. The “Times” Riga correspondent says the conference of Red Trade Unions at Moscow decided to establish direct relations with the Trade Unions in British India, and invite them to send a delegation to Moscow to study Soviet methods. KAISER ON RELIGION. (Received this day at 9.30 a.rii.) BERLIN. Jan. 7. | “Away with Judaism and Jehovah.” says the ex-Kai.ser in a newspaper article supporting the Germanic moment in opposition to both Judaism and Christianity. He adds: “’I" Ohurcli must abandon the old beliefs and make use of research. Luther was wrong when he used the word Lord instead of adhering to Jehovah.” The Kaiser emphasised that Christ did not use the word Jehovah, hut God, or Father, which lie declares “is good enough for me.” Christianity 'prang from Zoroaster, whose monotheistic doctrines influenced Isaiah. The Kaiser urges the Bible should begin with the New Testament, the second half consisting of a selection of Psalms, Proverbs and Prophecies, while the remainder should not be included in German Protestant books.