FEDERAL FINANCE

Hokitika Guardian, 15 December 1930, Page 5

FEDERAL FINANCE

LONDON ANXIETY.

(United Press Association— By Electric Telegraph—Copyright).

TON DON, December 12

“The Times,” commenting on the

Australian Labour Caucus bickering ou Air Lyon’s fights with the extremists, says: The position is almost intolerable for both Air Fenton and Air Lvo ns, who probably await the return of Air iSeiiilin before challenging a final test of strength with the extremists. Air Lyons is working hard to secure subscribers to the loan, and bis efforts seem likely to bear fruit. If tin’s loan were to fail, it would be a serious setback to the credit of the Commonwealth. The “Financial News” attributes the flatness of Australian loans to poor revenue returns and fears for the success of the present Australian conversion loan. CANBERRA, December l'Z.

The Acting Prime Minister, Air J. E. Fenton, stirred the House of Representative? to-day by expressing the confident opinion that the £28,000,000 loan would be over-scribed. He declared that the response all this week had been magnificent. Over £13)000,000 was already in hand which was sufficient to cover the Commonwealth’s war loan commitments due on Monday. The remainder of the loan is required for State obligations maturing at an early date,, It is expected that there will be a rush of applications on Monday, which is the closing date.