AUSTRALIAN FINANCE.
INTERNAL LOAN OF £10,000,000. REQUEST TO BANK BOARD. POSITION OF THE STATES. United Press Assn.—Elec. Tel. Copyright (Received May 19, 11 a.m.) CANBERRA, May 19The Loan Council requested the Commonwealth Bank Board to underwrite an internal loan of £10,000,000 to be floated immediately to meet the requirements of the Governments in the early months of the coming financial year. The Bank Board, after considering the Loan Council’s request, offered to underwrite a loan of £9,000,000. The Loan Council then decided to repeat its request for a loan of £lO,000,000.
Although details of the estimated deficits of the State Governments at the end of the current financial year, which were placed before the Council, have not been made public, it is believed that the figures will show the deficits to be as follows:
New South Wales .... 1,750,000 Victoria 300,000 Queensland 1,150,000 Tasmania 222,000
, South Australia anticipates a balanced Budget, and Western Australia a surplus of between £50,000 and £IOO,OOO.
A Commonwealth surplus of not less Ilian £4,000,000 is expected.
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Waikato Times, Volume 119, Issue 19889, 19 May 1936, Page 7
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170AUSTRALIAN FINANCE. Waikato Times, Volume 119, Issue 19889, 19 May 1936, Page 7
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