CANADIAN LOAN.

Auckland Star, Volume LXIII, Issue 123, 26 May 1932, Page 7

CANADIAN LOAN.

British Columbia Issue On London. FIRST TIME SINCE 1914. (British Official Wirclese.) EUGBY, May 25. The prospectus was published yesterday of a loan for tin Government of British Columbia. The amount ie £1,500,000. The loan takes the form of 5 per cent stock offered at 99, with a sinking fund of not less than 1* per cent. The loan is to be repaid by 1957, the borrower to have the option of redeeming it in whole or in part in or after 1957. This loan is the firet placed on the London market on behalf of any Canadian Governmental body for several years and the first British Columbia loan since March, 1914. Most of the Canadian public financing since the war has been arranged in 'the United States or Canada.

WANGANUI ISSUE

£121,400 UNDERWRITTEN. LONDON, May 25. A loan for the city of Wanganui of £121,400 at 0 per cent issued at 90} per cent and repayable in 1942 has been underwritten. During the discussion on Tuesday night the Mayor of Wanganui, Mr. G. N. Armstrong, said he considered that Wanganui was one of the few local bodies which had succeeded in the negotiation of a loan in London within the past few weeks. The city was probably in a better condition than any other city, town or borough in New Zealand. Reports ot the Auckland riots when received in England had retarded the underwriting of the loan, but with some readjustments the loan of £121,400 had been completely underwritten, and this after the bank and Treasury had stated that in view of the recent experiences of other local bodies the loan would probably not be negotiated.

COST OF MEDICINE

WHAT AMERICA PAYS. CHICAGO, May 20. The magnitude of medicine as a factor in tlie expenditure! of American families is forcefully revealed in a report just issued by the. National Committee on the costs of medical cave. This report shows that the people of the United States spend £14:5,000,000 annually for drugs and medicine—a figure which comprises approximately 20 per cent of the national bill foi , sickness. Putting it on another basis the annual expenditure for medicine for a family of four persons is £4 8/ or £1 2/ a member. How is this money spent, wisely or unwisely? That is one of the questions answered, at least in part, in the report entitled "The Costs of Medicine," published by the University of Chicago Prees.