AMERICAN CABLE NEWS.

Hokitika Guardian, 18 July 1925, Page 3

AMERICAN CABLE NEWS.

[Australia it N.Z. Cable Association.] A HANK OK ENGLAND LOAN. NEW YORK, July 1.7. It is reported in hanking circles ncritlint the proposed Australian loan will be a Hank of England loan entirely, the Hank of England supervising the issue while the Picrpont .Morgan Company will take charge of the part soiJ m the United States. The amount is still in question, but it is estimated it will total 125 million dollars with one hundred million dollars placed in the United States and the remainder in England. The delay in announcement of the flotation is reported to he due to Australians not being entirely agreed on the amount they wish to borrow, also the arrangements througu the Bank of England may have made negotiationo more complicated. It is believed the loan limy he offered early next week. The bonds will be sold at 90J. A later message states the Morgan Company has announced the purchase of seventy-five million dollars worth of gold bonds from the Commonwealth of Australia. They are thirty year live per cent, bonds and will lie oflered publicly on 20th July. Simultaneously the offer of live million pounds worth of Australian bonds will be made on London in March.