GENERAL CABLES

Hokitika Guardian, 16 January 1931, Page 5

GENERAL CABLES

FRENCH SCANDAL

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

(Received this day at 11 a.m.) ' LONDON, .January lot

The “Daily Mail’s” Paris correspondent states;—The charges of bribery and corruption, arising oat of the failure, of t|j«j Omstrie Bank and its associated concerns (as cabled on November 29th) which involved the defeat of the Tardieu Cabinet, are now likely to cause a second political crisis shortly, us the outcome of a Parliamentary Commission’s inquiries into the matter.

Three prominent cx-AJ misters will probably be impeached before the Senate High Court, on charges of cor-

ruption. The witnesses before the Commission are daily revealing an almost incredible state of affairs in which banks and financiers are alleged to have set aside large sums of money for the bribery of Government officials, and deputies, and ex-. Ministers, and police heads. A number of high officials in the police and in other Government circles have resigned during tiie past few days.

FINANCIAL BAROMETER. (Received this day at 10.30 a.m.) LONDON, January 15. Financial circles regard the latest news rom Australia as satisfactory, and are especially pleased with Afr Sculbn’s three year plan. Ihe feeling was immediately reflected in the Stock i.xclianget, where practically all Australian stocks recovered several points from the depressed level of early in the week, but New Zealand shock sagged somewhat owing to the increased exchange rates.

TREASURY REPAYAIEXTS

LONDON. January 15

The Treasury to-day repaid seventyfive millions four per cent- war loan income tax compounded, though u»t compelled to repay before 1942. Inc action is apparently due to the increase of income tax on 4th dune.

Financial circles express the opinion that Air Snowden’s decision to redeem, indicates he does not expect an emit reduction of income tax. I lu. e seventy-five- millions have been replaced bv Treasury, bonds and it is estimated will result in a saving of seven hundred thousand per year.