A THREE MILLION LOAN.

Stratford Evening Post, Volume XXXV, Issue 38, 13 February 1913, Page 6

A THREE MILLION LOAN.

UNDERWRITING PROCEEDING. ' .By Electric Telegraph.—Copyright.) (United Press Association.) London, February T2. The underwriting of the New Zealand loan of £3,500,000 4 per cents, at 98 is preceding. “NEW ZEALArs jJ OVER DOING IT.”' (Received 9.10 a.m.) London, February 12. It is officially stated that New Zealand is underwriting a three million loan repayable over a period from 1943 to 1963. A month’s interest will be payable on first August, The Westminster Gazette says : “New Zealand is overdoing it. The market did not expect the Colony would demand anything like three millions, and the natural effect is to depress the markets.” (Received 11.20 a.m.) London, February 12.

The payments extend over four months, this, with accrued interest, making the bonus to subscribers about 27 shillings. The Westminster Gazette says:— “Some of the Usual underwriters are refusing to underwrite.” v ‘ ‘EXCEEDINGLY SATISFACTORY. ’ ’ Mar ton, February 13. The Premier informed the Rangitikei Advocate representative this morning that the three million four per cent, loan at ninety-eiglit was successfully being underwritten in London by the Hon. Mr Allen. In an interview Mr Massey said he considers this exceedingly satisfactory. He has had a cable every day from London reporting on the progress of the loan, but he had not been' able before to divulge the information.