LOAN FAILURE.

Waikato Times, Volume XXXVI, Issue 2897, 7 February 1891, Page 2

LOAN FAILURE.

i'i:Y ELECTRIC TBWit.UAl'll. —i;oPYiUG/lT). Lo.Mio:;, February !. i TEXDttBiJ for the South Australian SJ iji r jeut. loan Oi i. 1.200,0'K) \\ ere opened to-day. (July i4iM,IM)O were olfercd. The syndicates abstained from tendering. The balance remains open at the minimum, but if a liberal discount is offered, syndicates will probably take it. The failure of the South Australian loan is attributed to the high premium at which the loan was fixed, when the advisers suggested that the minimum should be ( J7. Anoihcr cause assigned is, that only 2 per cent, discount was offered un immediate and . final payments. Then.' were about 100 tenderer-, the highest individual amount subscribed being £50,000 and is premium. The opinion generally express jd in the City is, tiiat it is madness of the oilier colonies to think of borrowing at present, unless they are preparer! to place their loans at, a lower minimum than 9S. February •">. A few additional applications have been received for the Smith Australian Loan. It is suggested that a committee of the leading hankers should ilx the minimum of a. loan.

The L'ress agree that tin* minimum fixed by South Australia was too high. The Standard says oilier colonies require a little more ot the same experience. Adelaide, February o. The Colonial Trea,surer will not send definite instructions to the loan agents respecting the loan until further int'oi'matiou luis been received from the A<*ent-Geueral, Sir Arthur Blyth.