AMERICAN CABLE NEWS

Hokitika Guardian, 9 May 1928, Page 2

AMERICAN CABLE NEWS

V(7nited Press Association. —By Electric

Telegraph.—Copyright.)

U.S.A. LOAN FOR AUSTRALIA

NEW YORK, May 7

'Hie firm of Pierpont Morgan arc offering for public subscription to-mor-row a loan of fifty million dollars for the Australian Commonwealth. The nonds will hear four and a half per cent, interest. The price of issue is 02,1. The currency is'2B years.

This four and a half per cent, rate for the new Commonwealth Loan is not only the lowest at which Australia has borrowed here but it is only the second time since the war that any foreign Government has been able to obtain that rate.

The dotation of the loan at this time confirms the reports mode in i'ebruary last that Australia is ready to enter the American market lor further financing.

It is believed there that the stocks of the recent Commonwealth eight millions sterling loan, raised in London, arc now selling at a premium of one per cent. This is in no small part responsible for the low rate at'which tomorrow’s issue will he offered here. The usual group of the affiliated Morgan hankers compose the syndicate offering this loan, namely the National City Bank, the First National Bank, the Guaranty Company, the Bankers’ Trust Company. Other firms, Harris, Forbes and Coy., Brown Brothers and Kidder. Peabody and Lee Iligginson are also included l .

The New York Times, in*a leading article, says: Americans, and especially Washingtonians, ought to have a special kindness for Canberra. The down-trodden Washington folk will have warm hearts for the bondsmen of Canberra. Xo votes have they ! A Federal Capital Commission rules them with the customary iron hand.”

The newspaper. commenting on Canberra's climate says: It is all the better for the Australians that they should ordinarily he sure of long vacations for their lawmakers.

QUESTION OF JAPAN. WASHINGTON, Mav S,

Japan may shortly he asked to explain whether in its opinion the movement of .Japanese troops into Shantung constitutes intervention. The State Department intimated to-day that under the ]!)22 Washington nine power, treaty, which became effective in 1924, Japanese and other foreign governments interested in China agreed never to intervene except when necessary to protect nationals and if Japan is only interested in the protection of her twelve thousand nations resident in Shantung there will lie no question of interventipn involved. WASHINGTON, May 8.

The State Department announces the United States will consider mediation in the Japah-Chine.se Nationalists strife only on an invitation from both sides.