A NEW ZEALAND LOAN.
London, April 7
The public have subscribed eighty-five per cent, of the New Zealand loan debentures.
A large proportion of the applicants declared their intention to convert them into subscribed stock when fully paid up. STATEMENT BY THE PREMIER. Dunkdxn, April 7. Speaking of the New Zealand loan of ,£1,850,000 just placed on the Eondou market, Sir Joseph Ward stated to-night, in reply to a question by a representative of the Otago Daily Times, that it was being raised under the Public Works Act and nothing to do with the State Guarantee Department. He had received advice that the loan had proved very successful. The loan was underwritten, but 80 per cent, had been taken by the public, and the balance of 20 per cent was in the hands of the underwriters.
It was a comparatively small amount, both from the point of view of New Zealand and the point of view of the underwriters, so that it is regarded in Loudon as a very successful financial operation.
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Manawatu Herald, Volume XXXII, Issue 824, 9 April 1910, Page 3
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172A NEW ZEALAND LOAN. Manawatu Herald, Volume XXXII, Issue 824, 9 April 1910, Page 3
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