THE AIILLION LOAN.

Feilding Star, Volume III, Issue 60, 13 January 1883, Page 2

THE AIILLION LOAN.

It will be seen by our London telegrams that the New Zealand million loan was received in England with marked favor. £1,520,000 was offered at prices ranging from 98£ to 101. Tenders at 98 9-16 will receive allotment to the extent of 78 per cent, above 98 9-16 will receive in full. This intelligence is highly satisfactory and indicates the high taken by New Zealand securities in the ISuglish money market. The Victorian Joan which was' offered at the same time was almost a complete failure, necessitating the calling of fresh tenders. The Australian Insurance and Banking Record has an article commenting on the success of the New Zealand loan as compared with that of Victoria, and draws attention to the date of issue and the minimum fixed, and says that it looks like an attempt to " jostle" Victoria. The Record adds that it is the first time in the history of the colonies that such a thing has occurred. We deny this accusation in toto, believing it to be absurd, and we have yet to learn that New Zealand should consult Victoria as to the date of issue nnd minimum of her loans. We have htlle doubt bat that the article quoted was written under a natural feeling of irritation, and believe that calm reflection will induce the Record to withdraw the questionable phrase which is more like the language of a sporting contributor to a sporting paper, than that of a precise writer on financial subjects.