The Oamaru Mail WITH WHICH IS INCORPORATED THE NEW ZEALAND AGRICULTURIST. FRIDAY DECEMBER 10, 1879.

Oamaru Mail, Volume IV, Issue 1148, 19 December 1879, Page 2

The Oamaru Mail WITH WHICH IS INCORPORATED THE NEW ZEALAND AGRICULTURIST. FRIDAY DECEMBER 10, 1879.

Tub special cablegram, which appears in another column of this -issue, regarding the Boating of the Melbourne gas loan, is moat satisfactory, as an indication of the -estimation in which Colonial securities are at present heljd in London. By the way, it would be advantageous if action were immediately taken to float our Harbor Board loan. The loan could have been announced immediately after the passing of the Loan Amendment Act, authorising the Harbor Board to borrow UOO,OCO, through all its stages on th«2lst of last month. But the agent of the Union Bank in London deemed it prndent to stay action in the matter until the arrival of the Act itself in London. We can understand that, rather than incur . any rikfc of t&c loan missing lire, it would tw better to exercise snch discretion. But v ~VH*-do*hopc thatj now that there appears ~ 4m be no barriei- in the way, except the acqtaittDDtit by the loan agents of the Act, there «i 0 lie no more delay. It should be in tbeir landa on tfco 20th

January, as it left here on tho 6th of December by the San Francisco mail. forms upon which it will be offered will be, jo far tw we can learn, at par as a rn : ntißum, bearing 6 per cent, interest, ami we think there will be no diffioulty in floating it on aach terms in the present state *)£ the English money market.