NEW ZEALAND LOAN.

Te Aroha News, Volume V, Issue 270, 6 June 1888, Page 4

NEW ZEALAND LOAN.

WhLUNUTON, May 31. Tlic follow ing appears in 10-ilay's " Time-, ": — " A rumour v>as curient last ni»liL that a telc^uun had been received lioin London rcpio.scnl.iiif; the prospects of floating Hie loan as \oiy unfavourable at the pic-o'it time, aiH athising' the po&tponemetit- of any opciai.ions on the JjOndon money inaikct) lor seveial inonUis at least. I do not picleml to vouch for the ttutli ot Uiit lepoit, which, icmcmbcr, i cached mo fiom two (Jifk'i'cnL ffiiartf) s, both likely to bo well infomied." J am pleaded (olea/ii fiom tt-c J'lemiti 1 that tlicre is no t-iuth in the above; on the contrary, he .enures me that lie lia.s cable achke.s to-day to Iho ellecL that Llie flames Jie sent Home jeeently will aid mateually in placing 1 the J'l.iii.

LATE 11. Tho Loan iiiil will ho floated in London <il once. Yo\) huoui.ible infoi nuxtion as lo il > pm-,|)cc Is ha\o Ijouj iccoi\cdby Minialo: 1 -. The minimum has boui hxed at £96

London, j\lay 31. TlieAew Zealand <J2,000,000 Four Per (Jrnb Loan is announced with a minium of 1)0 \. Te'idei-i will be opened on the 7lh m-t. The loan is ahoady quoted at a pieiniuin of €1. The Loan Act, 18K3, introduced by r.h ILuiy Atkinson, <i;ivcs power to i.ii-o -x loan ol €1,000,000 sterling lot (he purpo-cs ot immi^iabion, construction of public woiks, etc. The schedule attached to the Act was that £500,000 -\\cie to he set apai t for iail\\.iy&, including l'2."),000 loi 1 tlie cvLen'.ion from IFelenhville no)lln\ f aid> L"900 for the Putariu u-Uotorua section, L' 03,000 for the Woodville-Palmers-ton laaneh, and i'Br>,oo() for Ota<2,o ccnlicd Kiihvay. Tlic jii cater portion of thw halt million, €600,000 was to bo dexotcd to permanent ay, sleepers ;>nd lolling stock, while €126,00 wcic seb down lor ''engineering ami supei vision. '* Of the other half million €225,000 arc allotted toioad-, Cl3o,oGoiohai bom defences 1-10,000 to telo^iaph exti-nsion, €15,000 to pui eli. i-c ot natne l.md-, 120,000 to costs of loan and contingencies, while €70,000 aie un.dlotlcd. Adding to the million loan thus author i-t (1 the loan oi a million pie\iou.sly authoi-l-cd toi .Noith inland Tiunk flailw.iy, the amount of the loan now bein<^ ollerefl in Londun i^ obtained.