NEW ZEALAND LOAN
ATTITUDE OF INVESTORS COMMENT BY FINANCIAL JOURNAL. DEMAND THAT MAY BROADEN. By Telegraph—Press Association— Copyright. LONDON. August 10. Commenting on the small response to the New Zealand conversion loan, the "Financial Times” says: "The denouement is the abnormal culmination of an exceptional transaction. "New Zealand was helped out of a difficult situation, and official reticence over the extent of the assistance necessary casts no 'reflection on the stock's merits. The terms of the issue make the loan attractive to investors favouring short-period repayments, but they are in a minority so that the new stock cannot be expected to enjoy the same free market as those of longer date.
"This defect'might well be remedied by time. There are signs of growing realisation that New Zealand’s programmes of social reform must be governed by income and the effect upon the national economy. This adds to the importance of the conversion rights atttaching to the new loan. The demand for it is likely to broaden if the country shows it has really taken to heart the lessons of the recent experiences.”
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Wairarapa Times-Age, 12 August 1939, Page 7
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181NEW ZEALAND LOAN Wairarapa Times-Age, 12 August 1939, Page 7
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