NEW ZEALAND LOAN.

Dominion, Volume 7, Issue 1878, 11 October 1913, Page 5

NEW ZEALAND LOAN.

ISSUE OF PROSPECTUS.

By Tolsffriph—Freja Asaoolation—Copyright London, Ootober 9. 1 Tho prospeotus of the New Zealand 4 per cent, £3,000,000 loan has been issued. Throo months' Interest will be payable on February 1 next. Subscribers will bo given tho option of converting into 4 por cent, inscribed' stock —repayable between 1943 and 1D63 at tho rato of £101 of stock for every £100 worth of debentures—at any time prior to August, 1918. Those subscribers bo converting before the end of 1913 will receive six months' interest on February 1. CHEAP AT 4 PEE CENT. (Roo. Ootober 10, 10.80 p.m.) London, October 10. The "Dally Mail" characterises tho Now Zealand loan as cheap at four per cent. The "Financial Times" considers that th© bonds mo a good investment in themselves, but as a means of exchanging into stock, offer no advantages on tho current market price. The Hon. J. Allen, Minister of Finance, when questioned regarding the ?nbjcot matter of the above cablegram, said that' ho would not divulge particulars as to the. oost of the loan. Ho preferred to do this first in tho House. It is understood, however, that the amount of the loan floated may prove to bo .£3,500,000 when tho facts are all available. All tho money being raised is for tho redemption of loans coming duo. THE MONEY MARKET. STOCKS DEPRESSED: "CONSOLS AT £73 12s. 6d. By Mearrapl—Pxobs Association—OosyrlffM London, October 9. The stock markets are very flat, owing to the unfavourable monetary outlook, especially in Paris. , Imperial Consols are quoted at £72 12s. 6d., as against £73 6s. last week. THE "SCRAMBLE FOB CAPITAL." DEAR MONEY FOR AUSTRALIA. "Times" —Sydnoy "Sun" Special Cables. (Reo. October 10, 7.35 p.m.) London, October 10. The highest financial authorities do not hold out tho slightest hope of Australia raising hor loans cheaper because of the Federation taking control. Tho scramble for capital all over the world has been increasing tho interest charges for several years.