THE NEW ZEALAND LOAN.
UNFAVOURABLE CONDITIONS. London, Thursday. The Westminster Gazette states that the New Zealand three and a-half million loan at four percent, is quoted at seven-eighths per cent, discount. The loan has had no depressingeffect on the market. " The underwriters profess that they expected to get the whole loan. The Evening Standard says that the condition of the money market was unusually unfavourable. Doubtless? investors will speedily absorb the debentures. The Globe says that as a result of the New Zealand loan's failure, leading underwriters have signed an informal agreement not, to underwrite new issues for some time. The paper adds that a few months will enable the market to recuperate. The Pall Mall Gazette says that the public prefer to await a fiasco and pick up stock at reduced prices. Continued failures have had an unpleasant effect on the investment markets, and it is certainly time a hslt was called.
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King Country Chronicle, Volume VII, Issue 612, 18 October 1913, Page 5
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153THE NEW ZEALAND LOAN. King Country Chronicle, Volume VII, Issue 612, 18 October 1913, Page 5
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