DOMINION FINANCE
PENDING CONVERSION LONDON LOAN PLANS DEFENCE AND INDUSTRY CONFIDENCE OF MR. NASH (Elec. Tel. Copyright—United Tress Assn.) (Reed. July 3, 2.30 p.m.) LONDON. July 2. The New Zealand Minister cf Finance, 'Mr. V/. Nash, in an interview with the Daily 'Telegraph, said that he was confident that the New Zealand £17,000,000 loan would be satisfactorily arranged. He added that sterling would be available to -pay for imports from Britain. He was exploring the possibilities -cf a defence loan.
The City editor of the Daily Mail says that Mr. Nash aims at £0,000.000 as a defence loan and a £10,000.000 loan in order to establish secondary industries. The writer adds that the error, for which the present Government is not blameworthy, was fixing the repayment of a £17,000,000 loan ca a single date instead of two dates in, say, 1940 and 1960, thus giving greater scope for conversion or renewal. Single dates for redemptions involving £73,000,000 are also fixed for 1940, 1944, 1946, 1947 and 1949. Two other loans totalling £30,000,000 have optional dates.
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Bibliographic details
Gisborne Herald, Volume LXVI, Issue 19980, 4 July 1939, Page 7
Word Count
175DOMINION FINANCE Gisborne Herald, Volume LXVI, Issue 19980, 4 July 1939, Page 7
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