FEDERAL LOAN
FINANCIAL ADVISER’S VIEW
(United Press Association.— By Electric Telegraph.—Copyright.)
(Received this day at 10 a.m.) LONDON, Jan. 24
Mr J. R • Collins (financial adviser to the Commonwealth) commenting on Die Commonwealth loan says far too much importance is at ached to the fact that a loan is over or under subscribed. Experience shows that even where applications have reached three times the amount of the issue, within a few davs sometimes it has been so ( bo,ow the issue price. The Commonwealth loans always rise after the issue. The recent one was open on >’ three davs. The underwriters took up cbd,ty-four per cent. Dealings began at five-eighths below, but yesterday to davs after the dealings .began, the market closed with buyers at onesixteenth discount. This sntistnetoiy result is comparable with the Indian loan issue three weeks and now o»e----cightli discount, and the New Zealand loan which it is understood was oveisubscribed a fortnight ago, is selling at the issue price.
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Hokitika Guardian, 25 January 1929, Page 5
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161FEDERAL LOAN Hokitika Guardian, 25 January 1929, Page 5
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