AUSTRALIAN LOAN.

Taranaki Daily News, 18 April 1917, Page 5

AUSTRALIAN LOAN.

TO READJUST A STATE MATTER. April 14. The object of ttio Commonwealth loan, floated in London, is to cover the balance of £7,500,000 borrowed by the Federal Government on behalf of the individual States under an. arrangement come to between the Commonwealth Government and the States (New South Wales excepted).—Press Association. [The loan is for three and a-half millions, at 5 1 /; P Dr cen t. interest, and will consist of bearer debentures of £lO and upwards, convertible into registered before the end of June. All the States (except New South Wales) entered into an arrangement with the Commonwealth Government to refrain from borrowing on the London market, conditionally upon the Commonwealth, raising £7,450,0tt) in London,, reserving the right for themselves to raise up to £4,332,000 in Australia. This mas subsequently amended so that the Commonwealth' Government should require to raise in London on behalf of the States, £5400,000 tho following being the allocations:—Victoria £414,000, Queensland £1,735,000, South Australia £1,385,000, Wert. Australia £1,406,000, Tasmania £400,000,]