AMERICAN CABLE NEWS

Hokitika Guardian, 21 January 1927, Page 2

AMERICAN CABLE NEWS

[Australian & N.Z. Cable Association ]

BIG LOAN. NEW YORK, January 19.

The arrival here of Sir Montague Norman, the Governor of the Bank of England, lias given rise to much speculation on AY all Street, including thefrequent prediction that the visit is partly connected with a large Australian loan that is expected shortly. It is pointed out that Australian bonds valued at many millions of pounds are maturing in 1927, and. while no definite amount of loan is mentioned, it is -

believed that the offering will run over seventy-five million dollars, which is the amount of five per cent bonds marketed hero last July. J. P. Morgan’s firm, however, stated that no overtures had yet been made regarding a new loan.

Sir AY’- Norman’s presence is a.so taken to indicate a probable simultaneous reduction of tlie rediscount rate by the Federal Reserve Bank and the Bank of England.

TAR IFF PREFERENCE. Y T ANCOUY'ER. January 19. Air J. G. Coates (Prime Minister of New Zealand), interviewed at AA mnipeg, maintained that New Zealand should be given a tariff preference by Canada over the countries other than British in the matter of trade where her products are recognised to bo of equal or superior quality. Ho advocated the adjustment of the trade balance between the two sister dominions. In the matter of naval defence, Mr Coates reiterated that what the individual Dominion chose to do was entirely for their self-governing people to decide. “ AYe in New Zealand.” he said, “ are going to increase gradually our outlay on naval defence. At present it is costing us eight or nine shillings per head. The development of a new country costs a great deal of money, and it precludes the expenditure of immense sums on defence. EMPIRE PROBLEAIS. VANCOUVER, Jam 20. “AYe are proud to ho associated with the British Empire and all it means, hut wo :',"so recognise some of the difficulties which it is possible that otliei portions of the Empire may have, and that it is for us to help them out where wo can.” declared Air J. G. Contes (New Zealand Premier) in a speech at the Canadian Club at Winnipeg. He said that he considered that what really mattered at the Imperial Conferoiico was tlie spirit of the confeienee. Personally lie thought that the conclusions reached did not conflict with the resolutions of the previous Conferences. AVl.at had been written down wmfld go in the direction of making the Empire better known amt bettter understood, and of. making our people more of one mind than ever before.