AUSTRALIAN LOAN
OPENED AT DISCOUNT FOUR-FIFTHS LEFT WITH UNDERWRITERS. WORSE RESULT THAN WAS ANTICIPATED. By Telegraph—Press Association—Copyright. LONDON, June 8. It is understood that the underwriters were left with 80 per cent, of the Australian loan, which opened today at a 25s discount. Quotations on the Australian loan ranged from a 20s to 30s discount. The result is far worse than anyone expected, the general view yesterday being that the underwriters would not be left, with more than 50 per cent. The response was most disappointing, specially in view of the success of the South African and Northern Ire l land issues. Speculators apparently were completely uninterested. The Commonwealth loan which was for £6,000,000 sterling at 4 per cent, was issued at £9B 10s. It was said to be earmarked for defence expenditure.
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Wairarapa Times-Age, 9 June 1939, Page 6
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133AUSTRALIAN LOAN Wairarapa Times-Age, 9 June 1939, Page 6
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