N.S.W. LOAN.

Waikato Times, Volume XXXVII, Issue 2978, 15 August 1891, Page 2

N.S.W. LOAN.

(ISV ELECTRIC TKLKGIIAIMI.— COI'YHIGHT.) Loxdox, August M. Tun brokers are furious at the rumours concerning the New South Wales loan, and demand that the Government of that colony publicly deny the secret issue of the loan. Sir Saul Samuel declares that no definite offer to take up the loan for New South Wales at 97 h is been made, and that the alarm of the brokers is therefore groundless. The general opinion in the city is that a public loan of a million and a-half would be readily taken at 97. Stocks have recovered to-day, the forward movement being due to the belief that the intention, if any, to effect a private issue has been abandoned. The sudden squall on 'change has now collapsed. Sydney, August 14. The returns show that the Government borrowed temporarily from the Banks and other institutions a sum of £1,41,5,100 until the loan can be floated. Mr McMillan states that possibly the cable rumours arose through the fact of having given an extension of time for the conversion of two million at five per cent. A syndirate he states a short time ago offered to take a million and a-half of these conversions at par, but the matter fell through. He further states that the finance of the colony rose in consequence, and that there was a surplus fur the past half year of a quarter of a million, ho had the greatest confidence in the position of the colony, the only condition of safety being to refrain from attempt ing to place a loan on the present depressed market.