INTERNAL LOAN

Wairarapa Times-Age, 31 May 1939, Page 5

INTERNAL LOAN

LISTS CLOSING TODAY. OVERSUBSCRIPTION LIKELY. (By Telegraph—Press Association.) WELLINGTON, This Day. Applications for stock in the Government’s internal loan of £4,500,000 for public works and other developmental purposes, which has been on offer to the public since May 16, will close today. No official information on the response to the loan has been given at any time since the opening of the subscription lists over a fortnight ago. but the general impression in Wellington banking and commercial circles is that the full amount will be subscribed. As agent of the Government in the management of the public debt the Reserve Bank is handling the loan. The terms of the issue were received with approval when they were announced by the Prime Minister, Mr. Savage, in his capacity as ActingMinister of Finance. No indication has been forthcoming from either the bank er the Government as to the support accorded the loan, but a report from Christchurch after the first day’s response stated that the indications then were that it would be oversubscribed.

Apart from the favourable terms offered for the new issue, the surplus of £809,000 in the national accounts' for the year ■ ended March 31 last is considered in official quarters to be a factor likely to improve the prospects of the success of the loan. 'lt is also felt by financial authorities that the financial side of the mission to London by Mr. Nash will be helped considerably by a successful issue.

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