NO NEED FOR ACTION
Rec. Feb. 19, 7.10 p.m. LONDON, Friday. Members asked questions relating to New South Wales stock. Mr. 'O. Lewis asked if the Secretary of the Treasury was aware that the interest of certain of these securities was in arrears and what steps it was taking to remove them from .the Treasury trust ee list, or otherwise warn investors of the risks of holding such securities. Mr. E. Ranstead asked whether, in view of the defaults, Treasury would !ay the matter before the Ottawa Conference with a view to agreeing to amendments to the .Colonial Stock Act to meet such cases. Mr. E. Russell asked if the Secretary of the Treasury, under po'wers defiped in the Colonial Stock Act would obtain funds to pay interest where there had been default. Major Lloyd George, Financial Under-Secretary, in his answer said: "I am glad to say the necessary funds are now made available in Lojidon, and in the cjrQumstances, jneed for action on the part of the Treasury does not arise. Stocks will remain as' before as the interest is p.aid.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 153, 20 February 1932, Page 5
Word Count
182NO NEED FOR ACTION Rotorua Morning Post, Volume 1, Issue 153, 20 February 1932, Page 5
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