BRITISH AND FOREIGN NEWS

Hokitika Guardian, 3 July 1926, Page 3

BRITISH AND FOREIGN NEWS

[Australia & N.Z. Cable Association.J GERMAN MONEY. LOAN TO SOVIET. BERLIN, June 30. A long delayed agreement has been concluded by which a syndicate of German banks will finance the Soviet for the purchase of factory equipment and vehicles from Germany for four years. The Minister lor Economic Affairs told the Budget Committee that a scheme had been worked out to improve' marketing conditions in Germany and to consolidate Russo-Ger-man economic relations in accordance with the treaty. Tho Government, it is understood, will guarantee thirty-five per cent id tho credits and , the States’ Government a further twenty-five per cent. The Soviet refused the. first offer, which involved eleven per cent interest. Tho banks have now agreed to advance 150,000,001) marks at 9J per cent, the Government at the last minutq offering the thirty-five per cent guarantee.

PRINCE OF WALES. LONDON, July 1. An official denial is given to a story which, From Spanish sources, is published in the Paris paper “Le Journal,” to the effect that the approaching engagement of the Prince, of Wales and the Infanta Beatrice of Spain is being discussed.

HOUSTON Mill-lONS. LONDON, July 1. A sidelight on the fate of the Houston millions (left bv the late Sir AV. Houston) was shown when the Jersey Court to-day declined to rescind the appointment of a controller for the estate, under the old Jersey custom, for a year and a day. Sir AV. Houston’s American grandson, who claimed to be the sole heir, opposed the eontrolship of the estate, which is now estimated to work out at si& millions sterling. The real trial will come on Saturday, when, on behalf of Lady Houston, eight of the most eminent London specialists, whose fees amount to £IO,OOO, will certify before the Appeal Court, that she is sane and is capable of managing her own affairs. A BANKER’S REMEDY. LONDON, July 2 Sir John Ferguson, addressing the Institute of Bankers, said that recently the British banks sought a broader basis for their activities. If right direction wore given their relationships with the Dominion banks they would contribute greatly towards building up imperial trade. The Umpire contained a reserve of wealth sufficient to give every man, woman and child a. higher standard of hie than any other country. The banks could help forward the peopling of the Empire's vast spaces with British stock. It had now become a parrot ' ( .ry “Find us a Mussolini!” AVh.v not! It ought not to be impossible to find someone capable of carrying out a great scheme of economic reconstruction within the Empire as an offset to the loss of their foreign markets, and that would he someone who, by natural affinity, understood the Dominions’ political ideas.

FASCIST POLICY. ROME. July 1. The King has signed a decree providng for the country’s economic restoration, including an extension of the working day to nine hours so as to enable, oertnin of the industries to increase their production without the increasing of wages. Other measures aim at lowering the cost of .production of certain articles, thus enabling Italian competition to he undertaken in foreign markets, and also at limitation of imports. LOCO. AVORTvS FOB RUSSIA. LONDON. July 1. The Ukrnuian Government is negotiating with Rhein Aletall, one of the biggest machinery works, for the sale of the latter’s entire locomotive department. The Russians propose to re-erect the works at Kharkoff. and take over the German staff. They propose building engines for tbe Russian railways. The purchase price is said to be about six millions sterling. BIG PRICE FOR COLT. LONDON, July 2. Tho American, R. Dale, has purchased ■ for an unnmed buyer a yearling colt by Gainsborough—Lady Burghley, for ten thousand guineas—the highest price since Mr Sievier bought Sceptre for the same price. NEAY EGYPTIAN FRTCTION. CAIRO, July 2. Commissioner Lloyd has for the second time warned the Egyptian Gov- - ornnient for depriving Judge mtshaw of his pension. This is regarded as defiance to the recent British note. AN ANTI-GERMAN FANATIC LONDON, July 1. The tranquility of the International

Congress of Nations Societies at Aberystwyth was rudely disturbed while the Chairman was introducing Count Bernstoff. ,A man rose in the ball, and abused Germany, shouting: “What about the Lusitania, you dirty German?” The man was finally induced to leave, stdl hurling insults •and shaking his fist.

NEW GERMAN CRISIS. BERLIN,- July 1. Germany is again in the throes of a political crisis, as the result of a meeting of the Socialist Party in the Reichstag deciding to vote against tho Government’s compromise Bill in regard fo the property of the oxrulcrs. As the Right parties have also opposed the measure, it cannot possibly obtain the required two-thirds majority. Tho Government has intimated that if the Reichstag does not pass tho bill, it will resign, or ask for a dissolution.