DEFAULT EXPECTED
(Press Assn.-
LONDON AWAITING DETAILS OF COMMONWEALTH' S INTENTIONS AUSTRALIAN STOCKS SUFFER
— By Telegraph
—Copyrlght).
LONDON, Saturday. Exactly what -are the Commonwealth's intentions regarding Mr. Lang's default can scarcely be deduced from a cable message received here, ■ But tbe city gravely interprets a statement in the Central News Agency's message from Sydney, which credits Mr. Lyons with the statement that: "'If the State Government defaults in the payments due next week, bondholders will have to await the result of legal action for the recovery of their money." No important instructions have reached Australia House and nothing has been divulged to clarify the position, so some measure of default is expected on Monday, with deplorable effects on Australian securities. Even this morning some brokers were quoting New South Wales 51 at from £90 to £94, but this is scarcely a test of values. Mr. A. C. Willis, Agent General for New South Wales, says that though there will possibly be some delay in fulfilling London and New York obligations in February, he has no doubt that the interest will be paid.
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https://paperspast.natlib.govt.nz/newspapers/RMPOST19320201.2.18.2
Bibliographic details
Rotorua Morning Post, Volume 1, Issue 136, 1 February 1932, Page 3
Word Count
182DEFAULT EXPECTED Rotorua Morning Post, Volume 1, Issue 136, 1 February 1932, Page 3
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