CONVERSION BILL

Hokitika Guardian, 2 March 1933, Page 5

CONVERSION BILL

'PASSED IX HOUSE

REFORMATORY INSTITUTES BILL

(Per Press Association — Copyright.)

WELLINGTON, March 2.

In the House of Representatives yesterday, the New Zealand Debt Conversion Bill was passed without division at any stage.

Replying to the second reading debate, the Hon. J. G. Coates said that the people who had invested in public securities, had no need to be concerned as to the future of their investments, because the Government was taking the very step which would make their position secure. ■ The House disagreed with the amendments made by the Legislative Council in the Small Farms (Relief of Unemployment) Bill, on the ground that the amendments 'infringed the privileges of the House of Representatives. Mr Cobbe moved the second reading of the Reformatory Institutions Amendment Bill. He said that it had originally been proposed that power should be given for the issue of an order against an inmate or relative of an inmate in a reformatory institution for maintenance while in such an institution. It was now proposed that this liability should exist only in the e.ftsq of inmates in inebriates’ Homes, and he would, when the Bill was in cqnir inittee, submit amendments to this effect.

The Bill was put through all stages and passed, with amendments as indicated by the Minister.

APPLICATIONS POURING IN

WELLINGTON, Match 1. .Bv two o’clock to.day, offers, had been received by the Treasury to convert over £18,000,000 worth of Governmeht stocks to the new issue. Applications had been pouring in all day and the 'Treasury is almost being swamped with the rush.