THE MONEY MARKET.
MANY " ADDLED ISSUES."
Br Telegraph—Press Association—Copyritht (Rec. June -20, 0.5 a.m.) London, June 19. •Tho Daily Telegraph" says that the jear 1911 was a splendid time for (ho financial underwriters as each now issue was greedily swallowed. Tho past three months, hawever, have given an almost unprecedented list of addled issues. Of eight issues, including (he Now Zealand loan, aggregating .£21,755,000, tho underwriters received 75 per cent. All are now at a discount. It is thus evident that tho market needs a rest. Fortunately the burden, adds the "Telegraph," has been well distributed, but it is likely that tho underwriters in the autumn will have to pay higher interest upon tho loans of which they carry stocks, than the stocks cam. The danger of excessive underwriting may then assert itself.
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Dominion, Volume 5, Issue 1471, 20 June 1912, Page 5
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133THE MONEY MARKET. Dominion, Volume 5, Issue 1471, 20 June 1912, Page 5
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