DOMINION FINANCE.

Stratford Evening Post, Volume XXXVI, Issue 42, 25 June 1913, Page 6

DOMINION FINANCE.

"BAGS OF MONEY."

[Per Priiss Association.] Wellington, June 24

I The Hon. James Allen stated today that*he had received advice that j another £175,000, in two lots of £IOO,100 Q and £75,000, had been subscribed in London. It was partly for the I costs and expenses of the recent loan, and had )>een raised on very satisfactj ory terms. One amount was raised at par, and the rest at £99 5s per cent. The money would soon be available. The currency was the same as the three-million loan, namely 50 yeara, with the option of redemption any time after 30 years. Practically all the balance of the loan, the Minister added, had been subscribed, a large portion so promptly that the Government had more money than was immediately needed, and by investing some of the amounts the Government would just about recoup itself for discounts paid to the underwriters for payments in advance of dates on which instalments were due.