THE FIVE MILLION LOAN.

Auckland Star, Volume XLI, Issue 274, 18 November 1910, Page 7

THE FIVE MILLION LOAN.

• ■ t STRENGTH OF DOMINION FINANCE. I 1 (By Telegraph.—Press Association.) 1 WELIINGTOX; Thursday. The Premier announced iv tbe House of Representatives to-day that he had received tbe following cable from the High Commissioner: "Eoan closed to- { day at 4 o'clock: result applications for , __.44.000, underwriters taking balance, i £4.656.000.'' He had received a further cahle from the High Commissioner, the j general content, of which were coufiden- r tial, in which Sir Wm. Hall-Jones said ■! he regretted to find that his cable to the Premier of 14th inst. had been published in the Times." This was the cable read in the House by Sir Joseph Ward on Tuesday, containing the price at which the loan had been floated. Sit Joseph Ward went on to say that the '"Times'" correspondent had sent on Sir Wm. Hall-Jones' cable, which was public property. Referring to the demand for information by Mr. Massey as to the - loan consequent on the cabled newsaa- t pearins; in the Press. Sir Joseph Ward t said be was indebted to the -'London s Times'" correspondent for not cabling _, anything to London at that juncture. s It "was undesirable that attempts should be made to force the Treasurer to make . a premature statement, which might _ have had the effect of prejudicing the j loan on the London market. He felt his repsoiisibility in connection with the jj loan very much. In conclusion, Sir a Joseph Ward referred to the finances of the Dominion, which were never stronger I or healthier, both as regards revenue and _ in every other way. Producers had never passed' throush more prosperous times r than at present: trade generally was < I very active, and the country was in a j satisfactory condition all round. He t made this statement spontaneously, and;' [not as the result of any request from the -i \ High Commissioner. It would soon he I 1 seen that New Zealand stocks would be as high on the London market as they ; had ever been. Replying to Mr. Massey, .1 ! the Premier said he could not divulge j I the names of the underwriters of the < I five -minion loan, i