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Thursday, 25 May 1939

Mr WARD (EAST SYDNEY, NEW SOUTH WALES) - Will the Treasurer state the reasons why the Loan Council refused permission to the Sydney City Council to raise a loan in Australia to meet a maturing London loan of £1,000,000? Is the right honorable gentleman aware that the Sydney City Council was consequently obliged to renew the loan in London for a further period of five years at 5 per cent., which is equivalent to 6^ per cent, in Australia?

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