A NEW LOAN.

Taranaki Daily News, Volume LVI, Issue 181, 30 January 1914, Page 5

A NEW LOAN.

FOl'U-ANID-A-lIALF MILLIONS. I By Cable—Press Association—Copyright London. January 28. New Zealand is issuing a £ 4,500.000 four per cent, loan at £IOO 10s repayable in 1924. RIGHT OP CONVERSION. Received 30, 12.5 a.m. London, January 20. _ The New Zealand loan carrion the option of conversion into 4 per cent, stock immediately at 102, or later at 101.. THE PREMIER INTERVIEWED. REASONS GIVEN.

I By Telegraph—Press Association. i Wellington, Last Might. Regarding the proposed New Zealand loan mentioned in a cable message, the - Rt- Hon. W. F. Massey, in an interview I with an Evening Post representative, J said: "We have to raise an unusually large sum of money this year by reason of the fact that so many short-dated debentures fall due between now and December 31. We have, of ♦course, to raise a certain amount of money for public works and for the lending departments, and these facts taken together necessitate our going 011 the London market for a very much larger sum than | usual. Our agents advise that the. I credit of the Dominion stands well at present, and in view of that fact, and ( seeing thai there is an appreciable drop in the jiricc of money at Home, it is understood there, will be no difficulty in placing the loan. The greater part of the amount raised will be required for ordinary development purposes and for the requirements of the lending departments. We shall require another loan before the end of the year to enable us to redeem a large amount or shortdated debentures which are falling due. It may be added that though the borrowing seems very heavy, the net increase of indebtedness for the year will not be above the average."