AUSTRALIAN BORROWING
ADVICE FROM LONDON.
By Cable.—Press Association.—Copyright London, February 7.
The Financial News, • discussing the Australian loans for £27,000,000 foreshadowed, says that the main reason for the stampede to borrow is the referendum giving the Commonwealth power to assume State debts. The loans must be emitted gradually, so as to permit their assimilation by investors without causing scrip indigestion among underwriters. It would be well if the State Governments consulted together as to the time of issue, and the competing Governments would be well advised if they made easy terms of subscription and did not attempt to lower the rate of interest to 3 per cent. It would also be wise to attach sinking funds to future loans.
A NEW SOURCE OF SUPPLY.
Received 8. 10.40 p.m. Melbourne, February 8.
The Federal Government is issuing a million public works loan to tlie Victorian Government at 3% per cent out of tlie Federal Notes Trust Fund. Mr. Fisher states that the same terms are available to other Australian States requiring accommodation.
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Taranaki Daily News, Volume LIII, Issue 235, 9 February 1911, Page 5
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171AUSTRALIAN BORROWING Taranaki Daily News, Volume LIII, Issue 235, 9 February 1911, Page 5
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