N.Z. LOAN

Hokitika Guardian, 9 June 1931, Page 6

N.Z. LOAN

WELCOMED AT HOME.

United Press Association—By Electno Telegraph—Copy nglit. j

LONDON, June 7

After reviewing the Melbourne Conference work in an article beaded ‘•Australia Grasps the Nettle,” the “Observer” (pays a tribute .to Mr Forbes for uncompromising economy, “in consequence of which,’’ it states,

“New Zealand is confidently launching a loan on London. Australia has only to look in the neighbouring Dominion to see the result of sound finance, with which even New Zealand’s earthquake expenditure has not interfered.

The “Observer’s” financial editor says: The New Zealand loan will doubtless appeal to banking and other financial institutions to wlibni short term bonds are always welcome—when offered on favourable terms. Though New Zealand’s exchange rate is momentarily unfavourable, her problems are being tackled' promptly, and on sound lines, and there is, little doubt that she will overcome her present difficulties, onc e normal conditions tire restored.

LONDON, June 8. The “Daily financial editor says that New Zealand is to be congratulated on the- detailed information given in tile prospectus for her loan issue at London. It says;—“An important point is that a considerable portion of the loan will be spent in Britain.”

The “Morning Post” similar! ly praises the frankness of prospectus. The “Financial Times” in pointing out there are attractive terms and first class security, also emphasises the fact that a considerable portion of the money is to be spent in Britain on the purchase of material and plant.