MORTGAGE BONDS

Ashburton Guardian, Volume 55, Issue 272, 30 August 1935, Page 3

MORTGAGE BONDS

OVER-SUBSCRIPTION RUMOURED

(Per Press Association.) DUNEDIN, August 29. A rumour, originating in Wellington, that the issue of £500,000 3g per cent, bonds now being offered for public subscription by the Mortgage Corporation had already been fully subscribed Avas referred to by the chairman of the Dunedin Stock Exchange (Mr Harman Reeves) at this morning’s meeting. This rumour, lie said, Avas Avithout any foundation, as it Avas not yet possible to say lioav the issue Avould be subscribed for by investors, hut as applications Avere made from all parts of the Dominion, it Avas confidently expected that the issue would he fully applied for. He understood that smaller applications to receive allotment in full. Mr Reeves also mentioned that although some people might consider the rate of interest 3§ per cent., fairly loav, it Avould interest members to know that during the last day or two the Dunedin City Corporation had arranged a loan of £50,000 at 3:1 per cent., which was i per cent, less interest than that offered by the Mortgage Corporation,