NEW ZEALAND LOAN.

Taranaki Daily News, Volume LV, Issue 228, 14 February 1913, Page 5

NEW ZEALAND LOAN.

"OVERDOING IT." By Cable—Press Association—Copyright. London. February 12. It is officially stated that New Zealand is underwriting a ihrer million loan, repayable in 1°4.V1i3. A month's interest will be payable on August 1. The Westminster Gazette says that New Zealand is overdoing it. The market did not expect the colony would demand anything like three millions and the natural elFeet is to depress the market. The New Zealand loan payments extend over four month*. This, with accrued interest, makes a bonus to subscribers of about 275. The Westminster'Gazeite says that some of the usual underwriters are refusing to underwrite. GROWING DISFAVOR. Received 14, 1 a.m. London. February l:i. The Times says that the underwriting of the New Zealand loan ha« been received with decided disapproval. The patience of the Stock Exchange underwriters is exhausted, owing to the existing glut. STATEMENT BY MR. MASSEY. By Telegraph—Press Association. Marton, Thursday. The Premier informed a Rangitikei Advocate representative this morning that a £3,000.000 4 per cent, loan at 98 was successfully being underwritten- in London by Mr. Allen. In an interview hr said he considered this exceedingly satisfactory. He had had a cable every day from London reporting progress, but had not been able before to divulge the information.