BRITISH & FOREIGN NEWS

Hokitika Guardian, 8 June 1926, Page 3

BRITISH & FOREIGN NEWS

TAustralian ifc N.Z. Cable Association. VICTORIAN LOAN. LONDON, June 8. Hie Victorian, loan of three million nt five per cent, at S)BJ was underwritten. CAP.K POLITICS. CAPETOWN, June 7. 'I he Senate Bill was passed in the f Senate. The Minister in Charge consented to fin Amendment' withdrawing the clause abolishing the joint session.

INDIAN 1 LOAN. DELHI, June 7. So groat was the rush for the new hum by the Government of India for the four per cent, rupee loan at cihty-eight, duo in 1961 at par (subscriptions in cash and 1926 bonds) that it closed within three hour.?. GERMAN DISCOUNT RATE. BERLIN, JuVe 7. I he Reiehbnnk lias reduced the discount rate to 6.} per cent., and the deposit rate to 6). SLUMP IN FRANCE. PAULS, June 7. The renewed slum]) in France is likely to lead to something like wartime rationing in France. According to the newspapers’ interpretation the Government's decision is to restrict import? in order to improve France’s balance of payments. “lo Journal” says that the bakers will be ordered to close the shops once wcek.y; butchers twice weekly, and bread carts may even he instituted, while means will be devised to prevent speculative purchases of crops in Franc* by countries with a high exchang!. The“ Ala till ” says that a plan to re. strict the consumption will probably , allect wheat, flour, anthracite coal, ; petral, sugar and certain public works may h suspended. The statement that tie Government contemplated using tia gold reserve of tho “Banque de Franco’’ to support France promptly „J.s officially✓ denied, hut the newspapers declared it is hoped to nejotiato a loan with an American bank. 901 oveil >t the reserve of the Banque do France! is not employed as security, which vas at first considered.