MAKING THE PACE.
LOCAL BODIES AND TIIEIR BORROWING. By Telegraph.~Pres.s Association. Wellington, Wednesday. Mr. Harold Beauchauip, chairman of directors of the Bank of New Zealand, who returned from Australia to-day, says that money for legitimate investment is abundant there, and it is dillicult to get more than 4y., per cent, tor gilt-edged securities. however, are not disposed to lend money to New Zealand local bodies because they 'believe tihat these bodies have been making tiie pace a trifle fast. ft is just possible that, at the end of the current grain and wool season a considerable amount of Australian money 'will be available for private investment in New Zealand. Commonwealth financiers, though a little shy of New Zealand public bodies' securities just now. have respect for Dominion securities. llr. Beiiuchamp is hopeful for the future ot New Zealand, but estiuial.es that twelve months will be required to restore t'he old buoyancy. tf the present quotation for butter—ll'/jo f.o.b, —is maintained for tile ensuing" season, he believes that exports of dairy produce will net ,C 2,500,000.
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Taranaki Daily News, Volume LI, Issue 256, 22 October 1908, Page 2
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175MAKING THE PACE. Taranaki Daily News, Volume LI, Issue 256, 22 October 1908, Page 2
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