THE SOUTH AUSTRALIAN LOAN.

Ashburton Guardian, Volume VII, Issue 2058, 8 February 1889, Page 2

THE SOUTH AUSTRALIAN LOAN.

[Pvb Pbbss association.] I

London, February 6. Sir A. Blyth, Agent-General" for 3outh Australia, was confident the loan would be floated. The largest tender wag for £25,000. The Banks tendered largely at a slight premium m the hope of saving the loan, but they disclaim any share m fixing the minimum et par. Tho syndicates who joined m boycotting the loan are jubilant, because they think they have taught the colonies a lesson which will prevent thorn defying the financiers again. It is considered the prospects of floating the full amount are hopeless uuless the Banks combine to subscribe the balance. Sir A. Blyth | was challenged m the room not to allot ! below par, but refused to give a pledge. It is understood Glyn, Mills and Co are willing to co-operate with the South Australian Bank m coming to the rescue. London, February 7* The "Standard" referring to the failure of the South Australian loan, says the colony is too ambitious, and that it already borrows too cheaply for its own good. The article goes on to say that it is ridiculous that a raw and mostly unoccupied country with a population only equal to that of the city of Leeds should expect to borrow at 8£ per cent.