TREASURY BILLS
(Press. Assn.—
CABLED REPORT REGARDING DISCVOUNT RATE DENIED STATEMENT BY MR. FORBES
-By Telegranh — Copyrlght) .
WELLINGTON, Thursday. The PTIme Minister, the Rt. Hon. G. W. Forbes, stated to-day that he had noticed in the Press a statement to the effect that £4,000.000 of New Zealand treasury bills had been issued in London at a cost of 62 per cent. This was not correct, said Mr. Forbes. The position was that tenders for £4,000,000 of bills were invited, and application were reCaived totalling £5,935,000, and on the £4,000,000 allotted the average rate was just under £6 3s 4d per cent. and not six and three-quarters as stated. A high price was to be expected under the present market conditions, but the "Financial News" in London states that the rate at which the bills were allotted was a shade lower than had generally been expected.
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Bibliographic details
Rotorua Morning Post, Volume 1, Issue 100, 18 December 1931, Page 5
Word Count
145TREASURY BILLS Rotorua Morning Post, Volume 1, Issue 100, 18 December 1931, Page 5
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