DOMINION LOAN
POSITION OF' UNDERWRITERS
United Press Association—By Electric Telegraph:—Copyright )
LONDON, April 10.
“Statist” says that while Dominion stocks continue firm, the prospect for fresh borrowing are not hopeful. Sir Arthur M. Samuel told an interviewer that the failure of the New Zealand loa n Sought to he a warning to Australia.
“New Zealand loans are popular in Britain, yet- the dislike for Australian loans ha# shut the door on New Zealand. It is doubtful whether any considerable .amount of \new money •will be subscribed. 'The portion of the loan taken up was probably bv exchanging the old loan for the new. The underwriters were forced to find £1,500,000 to assist New Zealand! to repay £4,000,000 .shortly due for repayment. The position indicates that Australia will not get any new money, and, when their thirteen millions fall due in November, may be obliged to hypothecate certain customs to the service of the new loan.” Prominent stockbrokers disagreed with Samuel, pointing out that the failure of the New Zealand loan was partly'duo to market difficulties following liqiudfiUons a railing out of the Kreuger crash.
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Hokitika Guardian, 11 April 1932, Page 6
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183DOMINION LOAN Hokitika Guardian, 11 April 1932, Page 6
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