SOUTHLAND LOAN.
COSTS OF THE FLOTATION. By Telegraph—Press Association. Invercargill, Last Night. At a meeting of the Southland Power Board to-day it was announced that a loan of £750,000, part of an authorised issue of £1.500,000, has been underwritten, the underwriters undertaking to place it on *he London market on the following terms: rhe nominal rate of interest to be 6 per :ent., and the issue price 9G per cent. The ?osts attaching to the flotation, including inderwriting, advertising and printing, •tamp duty, legal expenses, etc., amount to 3 per cent., so that the net result to the aoard will be a flat interest on the actual moneys received of slightly under per lent. Sir Joseph Ward placed his influence and services at the board’s disposal without remuneration.
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Taranaki Daily News, 30 August 1921, Page 5
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128SOUTHLAND LOAN. Taranaki Daily News, 30 August 1921, Page 5
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