THE NEW LOAN.
SCRIP SELLING FREELY. The Hon. J. Allen, Minister of gavo a few particulars to a reporter last evening about the' sale by the underwriters of tho scrip of the three and a half million loan just floated in London. "Aa is usual after the floating of a loan," said Mr. Allen, "the price of the debentures fell below tho price at which the loan was issued, namely, to a discount of | per cent, (below 081), but I have information to-day that tno new loan scrip is selling very freely, and that_ it is quoted at eleven-sixteenths to nine-sixteenths discount.' It therefore remained at J discount only for a day or so. It is now on the rise, andi I expect to hear in a few days that instead of its being sold at a discount it will be. sold at a premium, or at any rate it will not be sold at a discount."
It may be explained' that the fee received by the underwriters for taking up the loan ig one per cent., so that they can sell tho sonp to investors at loss than, the issue pnoo and stilt earn a profit. ' '
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Dominion, Volume 7, Issue 1889, 18 October 1913, Page 5
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197THE NEW LOAN. Dominion, Volume 7, Issue 1889, 18 October 1913, Page 5
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