OVER-SUBSCRIBED
THE COMMONWEALTH LOAN. LISTS OPEN ONLY FIVE MINUTES. (United Press Association—Copyright) LONDON, July 23. The Commonwealth loan was oversubscribed. The cash lists were open only for five minutes. The loan is of £13,469,981 at 3 per cent., issued at par and dated 1939-41, It is for the redemption of New South Wales and Victorian stocks, holders of the latter (a 5 per cent, issue) being entitled to convert.
GRATIFICATION AT SUCCESS. GOOD AUGURY FOR FUTURE. LONDON, July 24. It is understood that a large per cent, of subscriptions to the Commonwealth loan came from banks, insurance companies, and other business concerns. Consequently less than the usual difficulty is expected from “stag-
ging.” The High Commissioner (Mr S. M. Bruce) is gratified at its success after several months of disturbed conditions in the market. It augurs well for subsequent operations.
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Bibliographic details
Ashburton Guardian, Volume 55, Issue 241, 25 July 1935, Page 5
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140OVER-SUBSCRIBED Ashburton Guardian, Volume 55, Issue 241, 25 July 1935, Page 5
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