NEW ZEALAND LOAN.

Taranaki Daily News, Volume XLVI, Issue 284, 5 December 1904, Page 2

NEW ZEALAND LOAN.

THE WHOLE AMOUNT UNDERWRITTEN. (Received Dec. 4, 5.34 p.m.) LONDON, Dec. 8. The New Zealand loan has been underwritten at £1 per cent, commission. WELLINGTON, Dec. 1. The Premier makes the following announcement, regarding the loan : " The Government has received Information from the Agent-General that the loan of £1,000,000 has been publicly issued, and applications are to close on the Bth inst. He is of opinion that there is a fair prospect of a successful flotation. The loan represents the £750,000 authorised for public works during Use recent session, and other authorising acts make up the extra nuarter. of a million. Tho loan is being issued in seven years 4 per cent, debentures at par, with the option to convert into 3 i Per cent Inscribed stock during the first two years at 103, during the next two years at 101, and during the last three years at par. Inscribed stock would o course carry a long currency. 'Hit; Government i» of opinion that Hit pifico and conditions are most advantageous to the colony; indeed they look upon the flotation as one of the most successful emissions made for a great number of years. When tho depressed condition, ol the money market and lihe enormously a/gwantageous terms given by the Japanese Government to investors in their, recent war loan are cowkhrec: U» country must be congratulated SE.» terma ttt the pr ™ Bt * «