LOAN IN LONDON.
NEW SOUTH WALES FINANCE. (Per Press Association—Copyright.) (Received This Day, 9.55 a.m.) SYDNEY, This Day. The Assistant-State Treasurer (Mr Stevens) announces that the Government intends raising a loan of £3,000,000 on London at ait early date., to facilitate the construction of the Sydney Harbour bridge, underground railway < and other important public works. BORROWING CRITICISED. LONDON, January 27. The “Daily Herald” says: “Another Australian State—South Australia-—is obtaining money in London. The seriousness of Australian borrowing is not the amount of capital taken out of the market, though this is a considerable sum yearly, nor the feeling of perturbation as to Australia’s ability to meet interest and redemption charges l . The drawback lies in the fact that the continuous issues of these trustee securities keeps up the rate of interest obtainable for trustee stocks and renders it more difficult to carry oiit favourable conversions in connection with out own huge debt.”.
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Ashburton Guardian, Volume 48, Issue 92, 28 January 1928, Page 5
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152LOAN IN LONDON. Ashburton Guardian, Volume 48, Issue 92, 28 January 1928, Page 5
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