THE NEW ZEALAND LOANS.

Taranaki Daily News, Volume LVII, Issue 276, 1 May 1915, Page 4

THE NEW ZEALAND LOANS.

ADMITTED BY 'MR. ALLEN. RKMARKS ON THE FINANCES. By Telegraph.—Press Association. Dunedin, April 30. Kegarding the Daily Mail's reference to the raising of the New Zealand loan in the London market, Mr. Allen made the following statement to a, reporter: "The Treasury':! approval has .been given for a small loan of £200,000 to pay the loan coming due, which had to be met. That is the extent of our financal obligations. It is a four per cent, inscribed stock loan, and must be raised, so that it will, cost the Dominion, after provision for discounts, discharge and redemption charges, at the rate of U 10s 5d per annum. It is a very favorable transaction, and the public need only look at the rates other countries have been paying for money. Questioned as to the comparative positions, Mr. Allen remarked that he desired, without any spirit of boasting, to say that New Zealand stands upon the London market to-day in a sounder position than any other part of the Empire. The situation regarding internal finance is, Mr. Allen stated, fairly satisfactory. It has taken a long time to get out the balances for the. financial year, and the actual result h not available, but be is satisfied that the public may rest assured that when the results'are made known the position will be very satisfactory. Financial arrangements have been made for the steady carrying on of public works for six mouths.