The New Zealand Loan.
PRESS CRITICISMS. SUDDEN RISE IN NEW ZEALAND FOUR PER CENTS. (Per Press Association.) London, May 5. The New Zealand loan is not underwritten, the local banks not receiving any of the money. Financiers believe that the successful raising will result in re-es-tablishing colonial credit, and congratulate the Hon. Mr Ward on the success of the loan. The Times asserts that syndicates induced the public to largely apply for colonial stocks. May 4. The Financial Times declares that the success of the New Zealand loan was due to the well grounded belief that the finances of New Zealand were improving. New Zealand 4 per cent, inscribed stock is quoted at 112£. The Times states that some good judges consider the financial position of the colony does not justify the premiums at i\ per cent. The Hon Mr Ward believes that it is advisable that the Australian colonies should raise future loans at 3 per cent, and is arranging to convert all the New Zealand stock into three per cents, as near par as possible. Mr Ward will initiate the operations before returning to Wellington. The process will be extended gradually as the prices of stock justify it, and it will result in a very large saving.
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Bibliographic details
Feilding Star, Volume XVI, Issue 259, 6 May 1895, Page 2
Word Count
209The New Zealand Loan. Feilding Star, Volume XVI, Issue 259, 6 May 1895, Page 2
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