THE VICTORIAN LOAN.
"A CHECK ON BORROWING."
London, April 13. Three hundred aud fifty-two tenders were received for the Victorian loan. The largest was sent in by a life insurance company for ;£ 145,000 at a shilling premium. The London and Westminster Bank took at minimum.
The failure of the loan is attributed to the abstention of the associated banks and syndicates, through fear of an increase in bank rates, and the additional withdrawal of gold.
The general opinion in the city is that the rebuff will prove a valuable lesson, and show Victoria she must put a check on borrowing. Many people express surprise that so much was subscribed.
The average price of the loan is 12s 4d.
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Bibliographic details
Auckland Star, Volume XXII, Issue 88, 15 April 1891, Page 5
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118THE VICTORIAN LOAN. Auckland Star, Volume XXII, Issue 88, 15 April 1891, Page 5
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