THE SEW ZEALAND LOAN.

Lyttelton Times, Volume X, Issue 627, 10 November 1858, Page 5

THE SEW ZEALAND LOAN.

The tenders for £300,000, reserved forth c public out of the New Zealand loan* of .£500,000, were opened on the 23rd July, at the Union Bank of Australia. The applications were read seriatim, and it appeared that the lowest was at 77£, and the highest Id9i. The aggregate of the tenders reached £1,125,700, and the lowest and highest individual sums applied for were £100 and £71,000. . The biddings appeared in many cases to have been based on the rate at which the Indian loan was lately taken, but the larger amounts were generally at prices ranging between par and 1045.-The minimum having been announced as £107-2s. 6d M it was found that applications for only £122,000 were above that rate,1 but 7,000 more was afterwards-sub-scribed at 107 & in the room^ while in the course of the afternoon, £21,000 in addition was taken up, making -tho total , £150,000 out of the£3oo,ooo. Subsequently subscriptions have augmented the amount allotted to about £200.000: The loan is not so popular as was anticipated; and there is a general feeling that the minimum price was fixed too high. I*ow transactions have taken place in the debentures on the Stock Exchange; and looking to.-tho whole of the circumstances connecteil with tho operation, the tesnltis-considered a failure/