NEW ZEALAND LOAN.

Taranaki Daily News, Volume LV, Issue 229, 15 February 1913, Page 5

NEW ZEALAND LOAN.

THE PROSPECTUS ISSUED.

By Cable—Press Association—Copyright Received 14, 9.55 p.m. London, February 14.

The New Zealand loan prospectus has been issued. It closes on February IS. The final instalment is payable on January 9- A portion, £655,100, will be utilised for redemption purposes, and the balance for public works, land settlement and development of the State coal mines.

A BRILLIANT COUP,

Dunedin. Friday

In local financial circles it is generally held that Mr. Allen has made a brilliant coup, where at best only partial success was expected.

STVTEMENT BY MR. MASSEY.

Marton. Friday

Speaking at Marlon Show the Prime Minister, referring to financial matters, said it was to he understood there was no difficulty regarding ordinary revenue. £5 for the tun months ended January 31 it exceeded the revenue for the corresponding period of last year by 1382.000. His chief concern, however, was with public works and land settlement promotion funds. lie was pleased to say difficulties in that connection were disappearing. The liabilities the Covernment was committed to. when it a.—uni(-d ofiie,.. for loans to local bodies, were reduced from C73U.000 to C 30.000. The Dominion would now realise why it was necessary to send Mr. Allen Home to arrange the finances. Short-dated debentures were piling up and had to be arranged for. also money for public works, lands for settlement, and advance? To settlers and workers. Mr. AM'-n's loan had been placed at 4 per cent, at OS.