BRITISH & FOREIGN NEWS

Hokitika Guardian, 16 June 1926, Page 3

BRITISH & FOREIGN NEWS

[Australian ft N.Z. Cable Association.]

SLUMP IN THE FRANU. ■ (Received this clay at 10.15 a.in.) LONDON, June 15. There was a slump in ttie franc when the Exchange Market opened to-day, the quotations reaching a new low record of 179.25 compared with yesterday’s closing rate of 172.25. Belgian francs were down to '75.12 to-day, after closing at 108.08 Eft evening. IVEM BLEY EXHIBITtON. LONDON, June 15. The freehold site of the Wembley Exhibition of 132 acres together with practically all the buildings of the Exhibition including the stadium was submitted to auction in London and withdrawn at £315,000. M. BERET'S RESIGNATION. (Received this day at 12.25 p.m.) PARIS, June 15. The resignation of M.Peret as Minister of- Finance, followed a- sudden drop in the franc. A communique states If. Peret explained that in the face of the rise of foreign currencies, and the absence of certain essential aid upon which the Government had a right to count, had not permitted him effectively to fulfil his entire duty. It seemed to him to he necessary to render possible a Parliamentary, political formation corresponding to the Wishes Of public opinion, which demands an effort to secure concord in the face of a common danger.

- FRENCH MINISTRY RESIGNS. PARIS. June 15. The Government has resigned. This come come as an entire surprise, inasmuch as earlier in tins day Mr Briand, in the Chamber, opposed a. demand for an immediate debate on ' reasons for M. Peret's resignation, and on tins financial situation; hut he promised ah opportunity for a debate on Thursday next, and hinted that he would resign on the spot if a delay was refused. The Chamber theieupon, by 309-votes to 195 fell in with his desire. The Chamber meanwhile adjourned.'' Subsequently the Cabinet met, and it decided that as it was not possible to perform the usual re-sluilfl-jjig necessitated by At. Perots "ithdrawnl, the only thing left to do was for the Ministry collectively ..to resign. ARCHBISHOP MANNIX. SAN FRANCISCO, June 15. Eleven delegates to the Eucharistic Congress at Chicago have auived. Archbishop Mannix said he was opposed to prohibition for Australia. Other countries could clo what they liked about it.