COMMONWEALTH LOAN.
ON EXCELLENT TERMS. LOWEST RATE FOR EIGHT TEARS. LONDON, March 31. The Commonwealth has underwritten a loan of £5,000,000 at 5 per cent, the minimum price being 06. Tlie loan will be advertised on Friday. It is redeemable in 11)35-45, and the final instalment, of oil»per cent ia payable on June 16. Six months' interest ia payable on December 1. The proceeds will be used for developmental works and Uie redemption of Treasury bills. The opinion in the city is that the Commonwealth has secured excellent terms. This is the first loan for a Dominion placed on a. r> per c nt basis sine ■ 1914. This has been done in anticipation of aji early reduction of the bank rate, and still more favourable money conditions than at present cxistinc. Thus the Coi»monweah.h has the distinction ot blazing a track for other Dominions.— (A. and N.Z. Cable.)
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Auckland Star, Volume LIII, Issue 78, 1 April 1922, Page 7
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148COMMONWEALTH LOAN. Auckland Star, Volume LIII, Issue 78, 1 April 1922, Page 7
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