NEWFOUNDLAND: Situation Saved!

Desperately resolved to raise money and avert default, the Dominion of Newfoundland recently offered to sell Labrador to Canada (TIME, Dec. 28), later hinted that rich U. S. citizens might be invited to lease Labrador—than which, from a British standpoint, nothing could be more deplorable. In St. John's one night last week harassed Newfoundland Premier Sir Richard Anderson Squires sat up to wee hours bickering and dickering with representatives of a syndicate of four Canadian banks. Was it a sale? Next day in Montreal, Canada, where most of Newfoundland's fiscal news breaks...