DOMINION LOANS

Wairarapa Times-Age, 2 March 1940, Page 6

DOMINION LOANS

REPATRIATION PLANS INTEREST IN THE LONDON market; . _ LESSENING’ OF FINANCIAL '' . . DEPENDENCE. . By Telegraph—Press- Association—Copyright. (Received This Day. 11.40 a.m.) LONDON.' March 1. Australia’s decision to raise eighteen millions on the Australian market, which" has been made known simultaneously with the announcement of India’s project for. the progressive repatriation'of. sterling'loans. has aroused much interest in the gilt-edged market. The. announcements are interpreted as indicating the Empire’s lessened financial dependence on London. providing- a fresh basis for. hopes of a large-scale war lime repatriation of Dominion securities: However, it is thought that Now Zealand cannot be brought within the orbit of any such plan for some" time; itr view' of the political and economic difficulties which led to its funding scheme and imports control legislation. GOOD- RESPONSE AU ST RA LI A N FLOTATION. HALF SUBSCRIBED ON FIRSTDAY, CANBERRA. March 1-. The Acting- Federal Treasurer. Mr Spender, announced that there has been a magnificent- and widespread response io the Commonwealth loan; which opened today, resulting in more than half - of the" £-18,000.000 required being subscribed when business ceased this-cvcTtiitg: He emphasised that the -fact that more than £9.000.000 had been obtained already was eloquent testimony that’the' people of Australia find resolved wholeheartedly to co-operate with the Government's war effort.

Several assitfan'de companies and some financial institutions had contributed an aggregate of- £'2,'50'0,000.