BANKING BUSINESS.
Large Australian Loan in
America.
MUCH SPECULATION,
xr:\v york
Januarv 20.
There is mucli -speculation on Wall Street, consequent, on the arrival in New ' ork of the Rt. Hon. Montague Norman, I'.C., Governor of the Bank of England. It is surmised that his visit is partly ! connected with a large loan for Australia which is expected to bo issued shortly. Australian bonds alued at many millions of pounds will mature this year. definite amount * for the new loan is mentioned, but it is j believed it will j amount • to more than £15,000,000. j .vhich is the amount j of the 5 per centj bonds placed on the market in New York last July. The banking firm of J. P. Morgan and Co., however, say no overtures have yet been made regarding a rew loan. Mr. Norman's visit is also taken to inr : cate a probable simultaneous reduction in the rediscount rate by the Federal Reserve Bank and the Bank of England.
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Bibliographic details
Auckland Star, Volume LVIII, Issue 17, 21 January 1927, Page 7
Word Count
164BANKING BUSINESS. Auckland Star, Volume LVIII, Issue 17, 21 January 1927, Page 7
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