NEW ZEALAND'S LOAN.
- __BE BEST WAT OUT. I 3>n> WOT LIKE ISSUE. ■ t *-j_j£Bs-**_u____.S TAKE THE [—. BULK. m .j/Beceived 10.15 a.m-X | W\. " LONDON, .Jane 12. __c Tniderwr-ters receive 87 per cent ef the New Zealand loan. The 'Times" •ays that the market did not like the ■issue, not only because tbe amount was JBCODveniently large, but because the 'yield was so high as to make existing colonial securities look dear. ' _vo doubt the terms of this loan moTe • represent the facts as to the credit - of New Zealand and some other countries than the idea^ B hitherto prevailing in official circles. j_e "Times" states that although 'many yiew short-dated debenture issues •rifli disfarour, they arc nevertheless probably New Zealand's best way out cf t _ difficult position. Good judges, it says, are of opinion iW it would have be«n better finance to. issue a long 4 per cent loan at a trifle ; under par than to pay possibly a great' __al over 4 per cent for the chance of a iggnnjahla renewal two years hence. .
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Bibliographic details
Auckland Star, Volume XLIII, Issue 141, 13 June 1912, Page 5
Word Count
174NEW ZEALAND'S LOAN. Auckland Star, Volume XLIII, Issue 141, 13 June 1912, Page 5
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