NEW LOAN.

Taranaki Daily News, 15 September 1920, Page 5

NEW LOAN.

DETAILS NEXT WEEK, NO DIFFICULTY EXPECTED^ —— f (By Reporter.) Wellington, Last Night, The opinion that the Goveranunt should make haste to place its new loan upon the market, in order that the terms on which the money was to be raised Bhould not be adversely affected by the borrowing activities of local bodies, waß expressed by the Hon, J. A. lianan (Invcrcargill) in the House. Mr. Hanan asked the Prime Minister whether the Government had yet corn's to a decision in respect to the amount of loan moneys to be raised, in respeet to the terms of the loan, and in regjwet tA the date at which the loan would be placed on the market. He said that a number of local bodies had already been authorised to raise loans, and that others were obtaining authority to raise large amounts. There were indications that the rates of interest were going up. Would the Uovernmentj is view of these circumstances, make an Endeavor to "get in first." Mr. Massey replied that the Government did not anticipate that it would have any difficulty in raising, at a reasonable rate of interest, the money it required. He had been informed that Ihe city of Wellington had recently i-i'iscd quite u largo sum at the itto,of 5J per cent. If a local body could raise money at that rate of interest, the Government would have no difficulty in raising a loan at the same rate, or. possibly even at a slightly lower r»te. The Hill dealing with' the proposals ot the (iovernmcut was in hla poisesuon at the present "time, and he would almost certainly submit it to the Hones next week.