London, Jan. 1.
'The Treasury returns' covering the nine months ending on December 31, show a deficit of £180,000,000 compared with the deficit of +£168,000,000 for the same period-a year ago.
The Chancellor of the Exchequer, Mr. Philip Snowden, had anticipated net surplus for the full year (to Marek 81, 1931) of over £2,000,009. The Budget prospects are therefore not bright—Reuter, prs the President of the Republic of Panama whose elective term of not expire until October The deposed President is the leader of Panama's Liberal Party.
A revolutionary junta under the leadership of Dr. Harmodio Arias has teen formed, Dr. Aviax has been proclaimed as the provisional president of the provisional government, Although the successful rebels captured President Arosemena they caused him no harm, For several hours there was fighting in the streets but indications 22 us antes an unexpected Inter-revolutionary movement formed, the rebels will be able to retain control unger the provisional presidency of Dr. Arias.
Meanwhile, the revolutionary funta has courted the recognition of United States, Great Britain, france, and of all other nations by announcing that it will observe all of Panama's international obliga. tions. It is believed that since Dr. Arosemena has resigned the foreign governments will have no alternative but to accept the pledge of the revolutionists,—United. Press,
Text read from the printed page and cleaned; old type leaves the occasional error.