SOUTH AUSTRALIAN LOAN.

Taranaki Daily News, Volume LI, Issue 202, 15 August 1908, Page 2

SOUTH AUSTRALIAN LOAN.

LATE AGENT-UKNKKAL'S EXPLANATION. London, August 13. Mr. J. G. Jenkins, late Agent-General for South Australia, characterises the State Treasurer's statement regarding the loan as misleading. On July », Mr. Junkins says, jho cabled to the Treasurer advising Him to' leave the flotation of the loan over till September or October. This cable •was not acknowledged till thu 23rd, when he was informed that the Government was arranging through a private firm for the sale of .two million pounds' worth of bonds at £l)s 2a fld. The Government was to pay stamp duty amounting to 12s Od per cent., which reduced the net price to £94 10s. Tile Government, Mr. Jenkins says, will now receive £OS 7s 6d net, instead of £M 10s, making a direct saving of £13,500 and interest on that amount for all timcj the Government, moreover, | takin* no risks, since any risk would be taken by the purchasers m London. ■Mr' Jenkins has received dozens, o. letters expressing regret at his resignation, and generally stating the writers hHi appreciation of. the way m which ho" carried out the duties of his office. Many express the opinion that in rc,i<mmo he adopted the proper mam., course! The writers include Earl Crewe. Lord Jersey, lord Tennyson, LorKintore, Mr. Sidney Buxton, all II _ agents of Australia, South Ajr'"\. :M ' Canada, Mr. W. V. Beeves (High (.-■ missioncr for New Zealand), and main leading financial men.