11 Jul 1932
Page 1
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This newspaper page contains 23 articles. Subscribers can read the full text of each article.
Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jul 11, 1932
Page
1
Delegates sign a new convention with Germany to effect the final payment of 150 million pounds. The agreement outlines settlement terms and schedules among involved parties and confirms the closure of the debt arrangement.
London reports a Lausanne convention where delegates agree on a framework for reparations. The plan proposes bonds totaling £150,000,000, issued at 6 percent, not within three years. Automatic liability lapse occurs if Germany’s 15 year window is not pursued, with disputes over final sums and in kind payments.
The State Department statement leaves some doubt about America’s stance on the Lausanne Convention. Officials signal a tentative readiness to revisit debt or title arrangements, with Congress yet to approve any funding revision. President Hoover’s position echoes congressional sentiment, while inquiries ask for authority and foundation for debt reduction assertions.
The North Coast Steam Navigation vessel Ulmarra, 924 tons, reached Sydney shortly after seven this morning after a 69 hour, 62 mile journey from Newcastle. A steam pipe fractured in the storm. repairs were made at sea, with the crew guiding the ship 120 miles offshore to Port Jackson. Captain William Buckingham and crew reassured families ashore, while aircraft searched for the vessel. The destroyer Halab was recalled from pursuit, and Chairman Alan Taylor visited the ship at the wharf to commend the crew and the rescue efforts. The ship is expected to proceed north on Tuesday if weather allows.
Peru declared a state of siege on Saturday as key seaports closed amid disturbances. Civilians were killed and wounded on Friday. The government blamed Communists and Aprista factions for the unrest. Troops faced scattered opposition in Trujillo and other coastal towns as security forces regrouped.
London reports a war loan conversion totaling about 1.0 billion pounds in the first week far surpassing expectations. Notable converters include two figures who converted 20 million and 16 million pounds, actions carried out not for themselves alone. The Conversion Publicity Department promotes salvation through conversion with the Prince of Wales taking a personal interest.
Unclear transcript notes a Saturday session in Lausanne with delegates including Birj Gmaville Byrte and Wilford from New Zealand. The text discusses moratoriums, treaty issues, interchanges in world trade, and debates over Germany and America’s roles while urging balance and parity through renewed cooperation.
Negotiations between German and Allied representatives progressed at Lat waite with indications of a tentative agreement. Communications among Berlin and London continued as ministers reported a possible settlement, while public wartime pressures tempered prior doubt about terms.
A sweeping accord proposed by leaders discusses equality, fraternity, and a path to peace through reparations, reconstruction funds, and international bodies. It includes provisions for 150 million in assets, a five percent interest schedule, and a one percent fund to support postwar recovery across Europe and the Near East. The plan calls for a League of Nations conference and coordinated efforts by France, Italy, Germany, Belgium, and others to stabilize economies and prevent future conflicts.
Paris papers express satisfaction with the Lausanne Conference. Central and left newspapers shower laurels on M. Nerrat while right-leaning papers offer sharper critique of the proceedings.
Berlin newspapers react to the Papen agreement with mixed tones. The Centre and Liberal organs argue for drastic action against Papen while The Vosische Zeitung welcomes the deal as a start toward cooperation. Papen claims the pact ends postwar constraints, restoring economic independence and enabling Germany to rebuild political freedom.
Disturbances erupted in the Poona jail Calcutta as prisoners awaiting trial staged a revolt amid a Frontier Communist Dehli incident. Police restored order after the unrest, with inmates reported subdued and security tightened around the serpe steretng area.
At Geneva the disarmament plan proposed by Hoover drew endorsement from about 30 nations. Key figures including Norman Daving and Jnuttes noted support while Dulles informed Sir John that negotiators would prepare draft accord. Conference aims to reconvene around July 18 with a six month adjournment planned for further talks.
The butter market shows early signs of recovery with buyers more confident and prices stabilizing. In Denmark production remains steady while forecasts suggest improved output. In the United Kingdom demand is strong, cheese markets hold steadier, and New Zealand and Australian prices rise modestly as warm weather boosts consumption and trade.
Investor's Chronicle notes the Australian stock market rising to par or premium on conversion offers. It claims the war era impediments to redemption of bonds are removed and favourably influences trade, production, and finances. July prospects from Lausanne and Ottawa suggest improved primary produce prices may boost the economy.
Melbourne reports the coastal steamer Casino was wrecked at Apollo Bay near Lorne. Five crew members including the captain are said to have drowned with five others missing. The vessel operated between Warrnambool and Apollo Bay.
Catary, Saturday. Commenting on European wits im. Lord Hathermers, chief promoter to several London newspapers, argued the return of the Hohenzollerns would aid peace in Europe. He said France would welcome the Kaiser’s return to remove Hitler and similar ministers, easing anxieties in France. The piece praised a restoration that could bring better times for Europe and the world.
Snow and rain blockage eased tonight as heavy falls in the Cooma and Nimmitabel districts were cleared. Rail traffic resumed when lines previously held by snow were passable again. Strong winds and remaining slush advised caution for dawn travel.
An Italian salvage diver aboard Arti descends to the sunken Finer area near Cherbourg. He works for three hours in Levi's Pocket but receives no answer to knocks and reports no tape signals from the wrecked submarine. Local reports say the diver did not surface, with conditions described as almost horizontal in four fathoms.
London stocks firmed after the Lausanne talks. British funds rose about 20 shillings, Australian and other markets improved. German reactions were disappointing. Britain plans to pay America 10 million on December 15. Neville Chamberlain, fresh from Lausanne, said no cancellation possible without broader terms and hoped America would share in expert discussions to be reviewed at future conferences.
Police and Railway Department comb the North Eastern district for a man accused of multiple wrecking attempts on the North Comat line. A conference at Wingham, led by Superintendent Pattinson, formed a task force to trap the elusive suspect, described as insane and hiding in the bush. All locals have been questioned as four miles of line remain under strict surveillance to keep the express clear.
Senate approval on a Saturday helped push a 2.1 billion dollar unemployment relief bill toward the president. The measure aims to aid individuals and areas hit by job losses, with leadership signaling it will face a likely veto. Unclear phrases reference Speaker Gar and President names amid muddled wording.
Twenty thousand attended the Crystal Palace commemoration honoring General Higgizeafer on his tour of Australia and New Zealand. The ceremony promoted unity among the nations as part of the combined weloais celebration.
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