THE LOAN FLOATED

Taranaki Daily News, Volume LIII, Issue 188, 18 November 1910, Page 5

THE LOAN FLOATED

STATEMENT BY THE PREMIER. By Telegraph.—Press Association. Wellington, Last Night. When the House of Representatives met yesterday afternoon, the Premier announced that he had received the following cable from the High Commissioner:—"'Loan closed to-day at 4 o'clock, with the result that applications were received for £344.000, the underwriters taking the balance of £4,436X100;' He had also received a copy of the cable which had been received by the Press Association to-day, and would appear in the evening papers, announcing that New Zealand 3</ 2 per cents, were quoted at !)G. The underwriters of the loan received over 75 per cent of the loan. Scrip is quoted about 10s discount. There was an impression that the public would abstain, hoping to buy cheaper later, but a decline was regarded as unlikely, as holders were very strong. The Premier stated that he had received a cable from the High Commissioner, the general contents of which were confidential, in which Sir William Hall-Jones said he regretted to find that his cable to the Premier of the 14th inst. had been published in t!ie London Times. This was the cable read in the House by Sir Joseph Ward on Tuesday, containing the price of which the loan had been floated. Referring to ■thfe finances of the Dominion, which were never stronger or healthier both as regards revenue and in every other way, producers had never passed, through a more prosperous time than at present. Trade generally was very active, and the country was in a satisfactory condition all round. He made this statement spontaneously, and not as the result of any request from the High Commissioner.