THE SOUTH AUSTRALIAN LOANS.

Wairarapa Age, Volume XXXI, Issue 9167, 15 August 1908, Page 5

THE SOUTH AUSTRALIAN LOANS.

CABLE NEWS.

United Press Association-By Electrio Telegraph Copyright,

HON. J. G. JENKINS' VERSION

TREASURER'S STATEMENT MISLEADING. Received August 14, 8.15 a.m. LONDON, August 13. The Hon. J. G. Jenkins, who has resigned the South Australian Agency-General through a dispute with the Government over luan negotiations, characterises the State Treasurer's statement regarding the loan as misleading. On the 9th July Mr Jenkins cabled to the Treasurer' advising him to leave the flotation till September or October. This was unacknowledged till the 23rd, when he was informed that the Government was arranging through a private firm the sale of two million pounds' worth of bondsfat 95 1-8, the Government paying stamp duty, 12s 6d, which reduced the net price to 94*. The Government will row receive £95 3s 6d net instead of 94i, making a direct saving of .£13,500, and intereat on that amount for all time, the Government taking no risk—that, if any, being taken by the purchasers.

LETTERS OF CREDIT. GENERAL CHORUS OF APPRECIATION. Received August 14, 8.30 a.m. LONDON August 13. Mr Jenkins has received dozens of letters, all expressing regret at his resignation, and generally stating high appreciation of the way in which he had carried out the duties of his office. Many of the letters express the opinion that in resigning Mr Jenkins adopted a proper and manly course. The writers include the Earl of Crewe (Secretary of State for the Colonies), the Earl of Jersey Governor of New South Wales), Lord Tennyson (an ex-Governor of South Australia and afterwards GovernorGeneral of Australia), the Earl of Kintore, Sir Thomas Powell Buxton (both ex-Governors of South Australia), and all the Agents-General of Australia, South Africa and Canada. The Hon. W. P Reeves, High Commissioner for New Zealand, and m iy leading financial men have wr.tten in similar terms.