03 Oct 1932
Page 1
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This newspaper page contains 32 articles. Subscribers can read the full text of each article.
Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Oct 03, 1932
Page
1
Sydney reports reliable circles foresee a short term issue of 12.5 million pounds in New South Wales bonds to be converted in London. Terms likely four percent with a small discount, to run briefly before a possible review in a few years for better rates.
London commentary questions Australia’s ability to restore equilibrium if the exchange rate remains volatile. The Economist weighs whether the country can sustain its export prices amid ongoing conversion trends and market pressures.
The article reports a hoped for announcement today regarding a South Wales matter with a 13 000 pound figure and expectations set to be exceeded, with October 3 cited as a key date.
The excerpt discusses the difficulty of setting Australian government rates and the potential depreciation of stocks. The Economist argues policy should advise on the rate at which Australia can buy. Some city opinions fear a low rate may misjudge realities, while higher rates risk harming markets.
The article reports calls for rapid deployment of additional troops to suppress a growing crisis. Leaders urge drastic action as protests intensify and security forces prepare new operations amid escalating tensions.
In Calcutta Saturday members press for immediate drastic measures as European members fear for safety after a wave of revolutionary crime. The government dispatches British troops, 400 Dorset Regiment men arriving at Dhaka, to restore order while Europeans and Moslems face threats and entertainment venues tighten security.
Landon defeats Davis in a fortnights billiards match as McConachy posts a 1371 score. The event notes the first four-frame break under the new baulk line rule and occurs on a Saturday afternoon in Landon.
The Chancellor Neville Chamberlain announces the withdrawal of the ban on new loan issues except for borrowers outside the Empire or where proceeds go abroad. The plan allows replacement issues with underwriting or new cash issues and requires Bank of England agreement on amount and date to avoid congestion.
A cloud burst in Meha Canyon south of Bakersfield unleashed a 40 ft wall of water. Twenty seven bodies recovered and trains swept away. Bridges destroyed and villages flooded as two rail lines suffered heavy damage and casualties.
Buckingham Palace witnessed the final stage of government reconstruction as King George VI received seals from three resigning ministers Lord Snowden Sir Herbert Samuel and Sir Archibald Sinclair. The Privy Council then swore in Sir Godfrey Collins as Secretary for Scotland and Sir John Simon as Home Secretary. An order appoints Major Elliot Minister for Agriculture.
In a broadcast debate Sir Herbert Bamuel defended his resignation from the Cabinet and argued Ottawa did little for free trade. He urged reductions in Australian and Canadian tariffs as essential. Sir John Simon urged Liberal MPs to back the National Government amid a crisis, warning against perpetual log rolling and backing inter imperial bargains for freer trade and a constructive lead at the world conference.
The Navy Department says the scouting fleet of nine cruisers 80 destroyers 11 submarines and one aircraft carrier will remain in the Pacific for at least six months. Officials cite enhanced fleet training and fuel savings and deny any link to the Far Eastern situation.
Commonwealth five per cent stock touched 107 yesterday with a middle price near 1044. At 107 its yield to investors works out at about 4.5 per cent.
It is understood that satisfactory arrangements have been made for the renewal of 4 250 000 Commonwealth Treasury Bills with the Westminster Bank at lower interest. Mr Brule hopes to make a hurried mid week visit to Geneva.
Dr. J L Garvin argues in The Observer that national government is more necessary than ever and should remain in power until the full feval limit. He says Ottawa agreements offer scope for thoughtful criticism and warns rejection could end the Empire. The great experiment must be tried.
In a Philadelphia ad dream Siimeon praised President Hoover for preventing Europe's economic collapse and enabling rehabilitation. He also warned the Manchurian issue and Sino Japanese dispute threaten American interests and undercut postwar peace treaties.
In the Northern Ireland House of Commons Mr Meattle of Labour protested a motion denial on prorogation day. Beattie denounced hypocrisy as thousands starved. Beattie seized the mace, flung it to the floor, was ordered to leave, protesting the dismission of the question.
H Gordon Bennett president of the New South Wales Chamber of Manufactures warned in a Sunday broadcast that the Commonwealth faces a dangerous financial relapse. He said Australia risks a balance of trade collapse and default unless finances are tightened, drawing on last year's small surplus to cover interest and charges due in London.
The Prince of Wales travels with Prince George through Denmark visiting Wedelinborg Castle Taasinge Island and Copenhagen. They share a lunch with Count Brockdorff before flying to Malmo Sweden and planning to meet in Stockholm.
Geneva BRITISH United Press says the Lytton Commission’s Manchurian crisis report has been tightly guarded. Bribes up to £12,000 were offered to translators officials and printers since air delivery from Peking. Copies kept secret day and night with no leaks, though believed unfavorable to Japan. A late forecast says it urges Japan to withdraw troops from Manchuria and evacuate Manchukuo.
Berlin reports that on return from Geneva Foreign Minister Baron von NeurSch told reporters Germany cannot recognise Britain’s juridical reasoning and will not join the Disarmament Conference until Germany’s equal status is resolved. He cited contacts with Sir John Simon and Mr Herriot and suggested Italy may side with Germany.
The Daily Telegraph reports a new security pact is being drafted with M. Politia of Greece as a leading figure. The British government and Italy remain opposed to further commitments, echoing past positions on the Geneva protocol of 1924.
Revenue returns for the first six months of the financial year reveal a deficit of £90,020,801, improved from £208,410,245 a year ago. London reports the fiscal position compared with the prior year as announced.
The war loan conversion ended last night after opening July 1. £1,920,000,000 had been converted leaving £165,000,000 to be redeemed. The Times notes prices, wages, profits and interest are adjusting to a new level as readjustment continues and money remains scarce.
The document notes that Reuters World Services and allied cources provide overseas intelligence for the issue. It states that all rights in Australia and New Zealand are reserved under special arrangements.
Brilliant sunshine and large crowds marked the Hall township Gala Day as the 1932 F C T Show drew over 1,700 attendees across two days, with Canberra visitors rising and gate takings near £100. The event showcased a strong hackney division, notable horse displays, and a fast wood chop won by M Doyle of Canberra in 70 seconds.
South Bros of Goulburn completed the hat trick by winning the final Canberra Cup sheep dog trial. They also took second place, securing the event every year since 1929 when donated by Dr. R. M. Alearn. A replica is awarded annually plus a £5 prize. Four dogs ran in a 16-dog field with remarkable cleverness in maneuvering the sheep.
A grand parade preceded the show opening led by Prime Minister Lyons and Acting Commerce Minister Perkins. The procession featured draught horses, hunters, hackneys, and ponies, displaying vivid colours and precision riding. Spectators admired the horses and anticipated Australia’s classic races 200 miles away as trotting and hunting events drew applause.
In the Farm Produce section A Flanagan scored 38 points to win first place by eight points over Kilby Bros. Grand champion ribbons went to W H West for a merino ram and L H Southwell for a merino ewe. W H Vest held the champion stud ram and L B Southwell the champion stud ewe as judging by Mr O Litchfield of Cooma concluded after careful examination. Kilby Bros exhibited the champion while Brown Bros showed the second best.
The pavilion drew crowds as home crafts and fine cookery impressed judges. Needlework displayed evident long hours of work, with children and adults delivering high quality entries. Lady MacKenzie praised schoolwork, commending exhibitors and authorities. Cotter Cordial Co displayed aerated water alongside other items.
A pen of stud pigs shown by Commonwealth Stud Farma Ltd attracted an endless stream of visitors. Managing director Mr J B Hibberson hopes the event spurs larger pig-raising ventures in the Federal Territory in the future. Notable exhibits included Walton Jay the Third imp Pars Mary the First and Woodburn Bradbury, offspring of supreme champions from Britain and Melbourne shows.
itinerant showmen filled streets with contests from boxing to darts writ large. rival acts clashed as crowds pressed into large marquees to watch bouts. one youth boxed a professional aboriginal lightweight. the amateur held the edge until a sudden finish. the colour boy fell and did not rise before the count.
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