NEW ZEALAND LOAN.

Stratford Evening Post, Volume XXXV, Issue 40, 15 February 1913, Page 5

NEW ZEALAND LOAN.

THE PROSPECTUS ISSUED. (By Electric Telegraph.—Copyright.) (United Press Association.) London, February 14. The New Zealand loan prospectus has been issued. It closes on February 18th. The final instalment is payable on January 9th. A portion, £655,100, will be utilised for redemption purposes, and the balance for public works, land settlement and development of the State coal mines. MR. ALLEN’S SUCCESS. Dunedin, February 14. In local financial circles it is generally held that Mr Allen has made a brilliant coup, where at best only partial success was expected. STATEMENT BY MR. MASSEY. Marten, February 14. Speaking at Marten Show the Prime Minister, referring to financial matters,said it was to be understood there was no difficulty regarding ordinary revenue, as for the ten months ended January 31st it exceeded the revenue for the corresponding period of last year by £3B2,DOCK His chief concern, however, was with public works and land settlement promotion funds. Ho was pleased to say difficulties in that connection were disappearing The liabilities the Government was committed to, when it assumed office, for loans to local bodies, were reduced from £750,000 to £30,000. The dominion would now realise why it was necessary to send Mr Allen Home to arrange the finances. Short-dated debentures were piling up and had to be arranged for, also money for public works, lands for settlement, and advances to settlers and workers. Mr Allen’s loan had been placed at 4 per cent at 98.