TREASURY BILLS.
ISSUE IN LONDON. 4 11-3.Z.3S ASSOCIATION TELEGEAI!.) WELLINGTON, December 1. On behalf of the Acting-Minister for Finance, Sir A. T. Ngata, in referring to the issue of £<300,000 of Treasury bills in London, appearing in tho cable news this morning, points out that the issuo of these bills has no relation whatever to the loan operate ons of the Government. These bills Were issued in anticipation of a revenue contingency that generally arises at this time of the year, when the Consolidated Fund has not received the revenue from the income tax. Tho bills mature on March 14th, 1931, and therefore will be paid oft before the ond of the financial year. The proceeds are to be used for general payments in London, such as interest, etc. The terni6 on which the bills were sold, at a discount of £2 Ss 9d per cent., compare favourably with the issue of Imperial Treasury bills on the same day at the rate of £2 2s lid per cent.
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Press, Volume LXVI, Issue 20100, 2 December 1930, Page 10
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168TREASURY BILLS. Press, Volume LXVI, Issue 20100, 2 December 1930, Page 10
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