AUSTRALIAN LOAN
EIGHT /MILLIONS AGREED UPON. (Australian Press Association ) MELBOURNE, October 27. It is understood that the Premiers’ conference to-day agreed' to the flotation of a loan of eight millions at interest of 3J tier cent., with an underwriting fee of 10s making the effective percentage £3 10s. This is the alternative to the twenty million loan originally proposed. A DEADLOCK REACHED. (Received this day at 9.25 a.ml SYDNEY, Oct, 28. '
A deadlock was reached when the Commonwealth Bank intimated that it would not underwrite the loan at less than four per cent, and ultimately the conference suggested Lliat Sir Robert Gibson convene a conference of tradimr banks in Victoria and New South Wales to review the whole problem. Mr Gibson informed the conference that he was quite prepared to do that.
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Hokitika Guardian, 28 October 1932, Page 5
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132AUSTRALIAN LOAN Hokitika Guardian, 28 October 1932, Page 5
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