RUMOUR DENIED

Hokitika Guardian, 19 May 1933, Page 8

RUMOUR DENIED

I■ n —rr <■***" — Q.F'NEW IN-J ERNAffi LOAN-

CHRISTCHURCH, May 18

That the Government was on the point of floating a. new -rnd substantial internal loan and that it contemplated renewing over-counter sales of stock at 4 per cent., were .two-rum-ours current in the financial quarters of the city yesterday. > Both were denied by the -Minister for Finance .(the lit. H<m. J. O. Coates) who said that at the present time; the • Government did not have to concern itself either with ta.n internal loan or. with a renewal of over-counter sales. TT-i was unable to indicate if or when either of these projects might be undertaken.

Over-counter s-a'es .of- stock, it. will be leca-Ued, were suspended when the Government .undertook the rpnversmn of the internal debt at the beginning of March l'-st, . Jt.. is -understood thatthe Government has since made inquirie,into lha prospects of renewing these sales of stock at 4 per cent., but that it has been advised a' r -a’n s t taking such a cem-e for -some time yet. The flotation of an interna! loo” has air» been discussed from time to time during the last 12 months, but jt is considered doubtful whether this could he wisely unck-rt.iken until in-tei-st is more effectively stabilised at the lower rates which the Government has been maKing every effort to establish ,