THE FIVE MILLION LOAN
FURTHER PARTICULARS,
WELL RECEIVED ON STOCK EXCHANGE.
Bi Telesraph—Press Association—Oonyrisht. (Ilec. November 14, 0.10 a.m.) London, November 12. The prospectus for the New Zealand fivo million loan invites subscriptions for threo and a half per centum convertible debentures, repayable at par on December 31, 1914.. Preference is being given to applicants undertaking to convert the allotments when fnlly paid into inscribed stock. Those converting before December 1 receive six months' interest on January 1. The terms of conversion till December 31, 1913, are .£lO2 worth of three and a half per centum stock for .£IOO of debentures. One million two hundred and fifty thousand of the issue is required to pay for the Dreadnought offered by New Zealand.
The loan has been well received on the Stock Exchange, and is quoted nominally at a quarter premium. It is calculated that the bonds will yield eighty-two shillings per cent. [The calculation that the bonds will yield eighty two shillings per cent, is probably an error. It should be seventytwo shillings per cent.]
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Dominion, Volume 4, Issue 973, 14 November 1910, Page 5
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175THE FIVE MILLION LOAN Dominion, Volume 4, Issue 973, 14 November 1910, Page 5
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