The New Zealand Loan.

Feilding Star, Volume XVI, Issue 260, 7 May 1895, Page 2

The New Zealand Loan.

PRESS CRITICISMS. (Per Press Association.) Syd.vey, Maj' 6. The Ilernkl says that the negotations for a 3 per cent loan marks a stage in the progress of colonial finance. Compared with the price at which the loan would probably have been obtained at 3:V per cent,, the result of the 3 per cent, is nothing to boast of. If, however, it famlirarises the British investor with what Australia expects to obtain in regard to future loans there will be no reason to regret that New Zealand led the way, although, unless New South Wales can get a price nearer par than 93 it would be as well to be cautious in following New Zealand's example. The Telegraph remarks that New Zealand has furnished a useful and attractive precedent which is certain to be followed. It considers, however, that Mr Ward's proposed conversion is looking too far ahead. Were he to offer existing holders a moderate bonus in stock upon their holdings, his conversion prospect would be a better one. His present scheme may hang fire, and that would be the reverse of politic. The Telegraph agrees with his idea about the conversion oi other colonial debts where feasible. Melbourne, May 6. The Age refers to the success of the New Zealand loan iv complimentary terms, and says the Government can now lend to the farmer at 4V or 5 per cent., and provide a sinking fund. London, May 6. The Hon. Mr Ward will bo entertained at a banquet on the l 2lst inst.