NEW ZEALAND BONDS.

Wairarapa Age, Volume XXXII, Issue 10142, 12 November 1910, Page 5

NEW ZEALAND BONDS.

UNDER-WRITING OF FIVE SVSJL(Received November 11, 12.."5 p.m.) LONDON, November 10. Underwriting is proceeding in connection with the issue of five millions' worth of New Zealand bonds at 9H], convertible into three and ahalfs "inscribed stocks till 191-1. Existing three and a-halfs have fallen to 97. DISCUSSION EN THE HOUSE. (By Telegraph—Press Association.) WELLTNCTON, Last Night. In the House of Representatives to-night, Mr Massey asked if Sir Joseph Ward had any explanation to make, in the matter of the underwriting of the bonds. The Prime Minister replied that he did not intend to disclose" the financial transactions at the present juncture. The financial business of the Dominion was being well and properly attended to. He was prepared, at the proper time, to inform the House what was being done. Mr Allen moved to add a clause to the Loan Bill, providing that returns of loans and the cost of raising the same shall be placed before, the House within a year after the loans have been raised.

_ Mr Massey, in supporting the motion, said the financial operations had not been satisfactorily conducted.

Sir Joseph Ward challenged Mr Massey to show any case of a mistake being made in connection with the financial arrangements. On division, the clause was rejected by 45 to 27.

Mr Herdman moved a new clause providing that particulars of the terms upon which loans had been floated, together with the cost and expenses of the same, shall be laid before Parliament within two years of the flotation. This was rejected.