THE NEW ZEALAND LOAN

Taranaki Daily News, Volume LIV, Issue 299, 14 June 1912, Page 5

THE NEW ZEALAND LOAN

THE TIMES' COMMENT. By Cable—Press Association—Copyright. London, June 12. The underwriters will receive 87 per cent, of the New Zealand loan. The Times says that the market did not like the issue, not only because the amount was inconveniently large, hut because the yield was so high as to make existing colonial securities look dear. No doubt the terms of this loan more nearly represented the facts as to the credit of New Zealand and some other countries than the ideas hitherto pre Tailing in official circles. THE MARKET OVER-FED. Received 13, 11.5 p.m. London, June 13. The Financial Times says that in view of the attractive terms offered, the result of the New Zealand loan indicates that the market for investment issues is over-fed. COMMENT IX DUNEDIN. By Telegraph—Press Association. Dunedin, Last Night. Prominent financiers and mercantile men, seen by a Dunedin Star representative, -express the opinion that the floating of the four million loan for two years showed a distinct weakness in our j finance. Money must become tighter j and rates higher in a very short time. I A sharebroker pointed out that the In- > dian loan of three millions, floated in London in April last, was underwritten to exactly the same amount, vk., 87 per cent, of the total was left in the hands of the underwriters. The Home papers, commenting on this, said that evidently the English investor now wanter a higher rates of interest on his money.