TELEGRAMS

Horowhenua Chronicle, 29 January 1914, Page 4

TELEGRAMS

■ ♦ [ITAI I'ItESS ASSOCIATION.] AEW ZEALAND JLOAi\!S. Wellington, .L'his Day. .Regarding the proposed 2Sew Zealand public loan mentioned in recent cable messages, the Hon. W. I' 1 . Massey (in an interview with an Evening Post representative) said:—"We have to raise an nil usually large sum of money this year, by reason ol the fact that so many short-dated debentures fall due between now and the olst December. We have, of course, to raise a certain amount of money for public works and for the lending departments, and these facts, taken together, necessitate our going on the London market for a very much larger sum than usual. Our agents advise us that the credit of the dominion stands well at present, aud in view of that tact, and seeing that there is no appreciable drop in the price of money at Home, it is understood _ there will be no difficulty in placing the loan. The greater part of the amount raised will be required for ordinary development purposes, and for the requirements of the lending departments; we shall require another loan before the end of the year to enable us to redeem ii large amount of short-dated debentures which are falling due. It may be added thai though the borrowing seems very heavy, the net increase of indebtedness for the year will not be above the average.