WELLINGTON.

Hawke's Bay Times, Issue 1615, 29 September 1874, Page 374

WELLINGTON.

(FROM OUR OWN CORRESPONDENT.) [BY ELECTRIC TELEGRAPH.] 25th September. The Premier, previous to his departure for Auckland, received a semi-official notice from Dr Featherston that her Majesty was willing to confer upon him the honor of knighthood. Only £673,400 of the mil!ion-and-a-half loan has been sold in the London market at the minimum of 98, as was wired to your readers long since ; the remainder being disposed of at a concession of one per cent. The balance was taken by the syndicate on exchange, not only with the concession, but with a guarantee that no other loan should be placed on the market within a certain period. The Evening Post says, it was a knowledge of this fact which made Mr Vogel fight so hard to raise four millions by issuing short-dated debentures, which would not be admissable on the Stock Exchange. Whether the hypothesis of the Post is correct or not) the facts are indisputable. The debentures held by the syndicate amount to nearly a million sterling ; they have been sought to be placed, and offered, cum dividend) at 97, without finding purchasers. The Post says that it does not speak well for New Zealand that the four-and-a-half per cent, debentures should be shyly looked at and avoided at such a discount, when money at home is plentiful for safe investment at one-and-a-half per cent.