WHERE MONEY IS TIGHT
An indication of the state of the Australian money market is afforded by the issue of the Melbourne Board of Works cash and conversion loan of •C2GO,OC<), bearing (3J per cent, interest and maturing 1040. While lamenting the board’s financial position, tbe chairman (Mr Bell) was able to give an assurance that the board wo-uld -pay holders in its £250000 loan, maturing on Ist April. “I do not know where the money is coming from at present, but it will be 11..«r<- for stockholders when tney pry-
sort their certificates,” be sai l. l-ut 1 added: “Still, money does not grow on trees these days, and if it is in the ground it is hard to find the lucky spot.” He hoped the big financial -bodies would take up the loan, as the public were rather wary of a public i<sue bearing (5.1 per cent, interest. If the institutions did not take up the loan then the position would be black, indeed. At least, it would mean the postponement of many important . works.
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Hokitika Guardian, 12 April 1930, Page 6
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177WHERE MONEY IS TIGHT Hokitika Guardian, 12 April 1930, Page 6
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