MILLION-AND-A-HALF LOAN OF 1901 (RETURN SHOWING PARTICULARS OF THE).

Appendix to the Journals of the House of Representatives, 1903 Session I, B-23

8.—23.

1903. NEW ZEALAND.

MILLION-AND-A-HALF LOAN OF 1901 (RETURN SHOWING PARTICULARS OF THE).

Return to an Order of the House of Representatives dated the 10th July, 1902. Ordered, " That there be laid before this House a return showing the amount of the last £1,500,000 loan subscribed by the public, the average price, the amount taken up by the underwriters, the total amount received by the oolony on account of the £1,500,000, and the average price of the whole loan ; also the cost of raising."— (Mr. J. Allen.)

Loan of £1,500,000 issued in 1901 authorised to be raised under "The Aid to Public Works and Land Settlement Act, 1901" (£1,000,000), and "The Government Advances to Settlers Act, 1894" (£500,000). Amount subscribed by the public ... ... ... £665,000 0 0 Average price ... ... ... •••• • • 94 per cent. * Amount taken up by the underwriters ... ... ... £835,000 .0 0 Total amount received by the colony (after payment of charges) £1,368,005 16 9+ Average price of whole loan ... ... ... ■•■ 94 per cent.* Cost of raising (inclusive of £90,000 difference between par and price issued) ... ... ... ... •■• £131,995 13 11 * Loan was issued at fixed price'of £94. 1 Includes £1 10s. Bd. interest on overdue instalments. Robert J. Collins, Assistant Secretary to the Treasury. The Treasury, Wellington, 7th July, 1903. Approximate Cost of Paper.— Preparation, not given; printing (1,425 copies), 17s.

By Authority: John Mackay, Government Printer, Wellington.—l9o3. Price 3d.]