GENERAL CABLES

Hokitika Guardian, 2 December 1931, Page 5

GENERAL CABLES

ASSOUAN DAM CONTRACT

FAILURE,

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

CAIRO, November 30

The dispute between the Nonton ‘Griffiths Company alld the Egyptian Government, over the non-completion of the heightening of tho Assouan dam, has been settled by the , Government releasing £IOO,OOO which Norton Griffiths deposited; also paying £70,000 as part value of the plant left on the site, when the Egyptian Government took over the .scheme. When Major Norton Griffiths died, the Egyptian Government claimed the right to confiscate the. whole of the £360,000 worth of planit, in addition to damages for noncompletion of the contract.

RUSSIAN BISHOP, EXECUTED

ROME, November 30

The Vatican has learned that Monsignor Massimo, a Russian Orthodox (Bishop, was shot on July 6th last for refusing to adhere- to the Metropo/i----ton 'Sergius’s acknowledgment of the Soviet. Father Romano Med vied was sentenced to death on a similar charge, but his sentence was commuted to ten years’ imprisonment.

STERLING DROP.

COUNTRY STARTLED

{Received this day 'at P.2S a.m, LONDON, December 1

The worst break in the sterling, since the earliest, clays of the suspension of the gold standard, has startled the country. Newspapers feature the rate at New York at 14s and at Paris 14s 6d, wiith lengthy explanation of speculations. The “Financial Times” describes it as a veritable “Black Monday, principle facto* - being the bear laid by continental operators. The “Financial News” says that it is wed informed that members of tho .Stock Exchange are not alarmed.