SIR JULIUS VOGEL AND THE NEW ZEALAND LOAN.
The Colonial Treasurer has supplied the following explanation of the change made in the arrangements for the loan : — Waiwjeba, Monday. " There is no truth in the allegation that the million and half loan is not floated now because of any doubt of the market, or objection about the Sinking Fund, or anything directly or remotely related thereto. The sole cause of delaying the million and a halt is because of the Bank of England considering that tho pledges previously given prevent tho floating of any loan but the three million loan until after the expiration of the financial year, at the end of March next. The million and a-half will be floated later in tho year, and the million will be floated at once. It is, of course, true that the market is not very favourable just now to new loans. The rate of discount is high, and the price of consols and amount of reserve low."
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Te Aroha News, Volume II, Issue 84, 10 January 1885, Page 3
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165SIR JULIUS VOGEL AND THE NEW ZEALAND LOAN. Te Aroha News, Volume II, Issue 84, 10 January 1885, Page 3
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