SYDNEY LOAN
NEW YORK DEPRESSION
(United Press Association—By Electric Telegraph.---Copyright.)
NEW YORK, Feb. 6
It is understood that the Sydney loan negotiations here aro for a sum of five million dollars. Tho terms and rates are said not yet to have been agreed upon.
Though wholly conjectural, there is good reason to believe that the bonds will bear a fine per cent coupon, and will he sold at a price which will bring the purchasers six per cent. The feeling in Wall Street is that, since Sydney City never has entered the local market before, and, due peculiarly to the “bearish” news from Australia recently, the underwriters will be compelled to offer the securities at attractive prices to assure their quickly being bought up. There is a dcjpre.ssioii on the bond market here generally, and the foreign issues particularly make this even more certain. Ono well-informed banking statistician stated that the Sydney authorities probably will realise this, even before deciding to enter the local market. It is understood that Mr J. B. Were, of Melbourne, is handling the Australian end of the negotiations.
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Hokitika Guardian, 7 February 1930, Page 6
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183SYDNEY LOAN Hokitika Guardian, 7 February 1930, Page 6
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