AMERICAN MONEY.
RUMOURED BRISBANE LOAN.
(Received 1.30 p.m.)
NEW YORK, February 7.
It is understood that within a few hours contracts will be signed for a £1,500,000 loan for Brisbane, the Commonwealth Bank Agency being the fiscal agents. The Lee, Higginson Company are underwriters of the loan, which is unconditionally guaranteed by Queensland. The Financial News .Service tickers this afternoon carried the following: Banking House reports are that the Commonwealth has arranged a loan ranging from £1,000,000 to £1,500,000 with New York bankers.
Mr. Dow informed the Australian Press Association that he had no information on the matter. The persistency of reports of Commonwealth financing are taken to indicate that informal inquiries have probably been made with J. P. Morgan concerning the present market conditions and the local market is taking this to mean that a new loan is impending.
Rumours are also in circulation that while the last Commonwealth loan has been selling slightly above par and has been well supported by underwriters, the latter feel that any new flotation cannot be undertaken save at slightly higher terms than last.
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Bibliographic details
Auckland Star, Volume LIX, Issue 32, 8 February 1928, Page 7
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181AMERICAN MONEY. Auckland Star, Volume LIX, Issue 32, 8 February 1928, Page 7
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