COMMONWEALTH LOAN
(United Press Association. ByEleetiic Telegraph.—Copyright.) LONDON, Jan. 21. The “Daily Telegraph’s” city editor states the response to the Commonwealth loan was poor but , was no worse than was feared, though it is not flattering to the credit of the Dominion. The time has surely arrived when financial advisers should review the position. Eighty-seven per cent of the July stock and eighty-four per cent of March was left with the underwriters. This is not a reputation to cultivate. The reluctance of the city to take up the stock at the time issued needs investigation. Either the price is too high or else there is an impression which certainly pie\ails. that Australia borrows too heavily mid too regularly. It may be pointed out that as control is in the hands ol ii central authority, and a sinking fund arrangement exists, the contention May lie unfounded, but there is on clement of doubt to which attention should be paid. A rest from heavy borrowing would probably be the best remedy. In due course the stock would doubtless be absorbed.
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Hokitika Guardian, 22 January 1929, Page 5
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178COMMONWEALTH LOAN Hokitika Guardian, 22 January 1929, Page 5
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