MONEY CONTINUES DEAR
NO EAST TASK TO RAISE LOANS. (Rec. May 23, 11.30 p.m.) London, May 21. City opinion is that the Australian Treasurer will not have au easy task raising loons unless prepared to pay a high price. Although competition is high, interest in industrial flotations has practically ceased owing to the banks restricting facilities, for speculation, and there is a prospect of money continuing dear. Tho discount market is discussing the possibility of a further increase in the bank rate. There is also tho fact that British Government invetmenta offer a high rate of interest.' Exchequer bonds maturing in 1922 now yield tho investor UGs. per cent. A now housing loan for Kent, Middlesex and Essex of five millions at G per cent,, issued at 951, redeemable in 1940-60, yiolds 1265. 9d. per cont. There is undoubtedly plenty of money for investment in gilt-edged securities if the terms offered are sufficiently attractive. '-Aus.-N.Z. Cable Assn.
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Dominion, Volume 13, Issue 204, 24 May 1920, Page 5
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157MONEY CONTINUES DEAR Dominion, Volume 13, Issue 204, 24 May 1920, Page 5
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