AUSTRALIAN LOAN.
ONLY HALF SUBSCRIBED. NOT SUITABLE; TO MARKET(United Press Association—Copyright.) (Received This Day, 9.55 a.m.) LONDON, January 16. It is understood that the underwriters took up 50 per cent, of the Australian "loan. Dealings started at 15s discount, with the result that it depressed gilt-edgeds. The possible explanation is that the bulk of,the old New South Wales loan is held on the money market, which found the new long-dated stock unsuitable to its needs, consequently the conversions are unsatisfactory. The underwriters, however, are not disturbed. The Commonwealth loan closed at 1 3-16 discount. The financial editor of the "Daily Telegraph" says that the over subscription'of the Siamese loan is overshadow, ed by the poor results of the Australian loan. The underwriters faced a temporary neriod of indigestion. The circumstances do not appear to favour the early appearance of another large trustee n^uo.
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Bibliographic details
Ashburton Guardian, Volume 56, Issue 81, 17 January 1936, Page 5
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143AUSTRALIAN LOAN. Ashburton Guardian, Volume 56, Issue 81, 17 January 1936, Page 5
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