NEW ZEALAND LOAN.

Bush Advocate, Volume XVI, Issue 582, 5 December 1904, Page 5

NEW ZEALAND LOAN.

Per Press Association). (By ElectrioJ Telegrapher-Copyright) ■ A-A Ally. London, Dec. 3. The New Zealand loan prospectus has been issued. The stocks are convertible into 3^ per ceiits -'.within two years at 103j in four years at 101, and in seven years at par, y The New Zealand loan was underwritten at a pound per cent commission.

Per Press* Association.

WEiiiiiNGTON, December 4-

The Premier^v^a^eso^thej.fblldwing^ announcement regarding, the, loari:— l^The Governmenthasreceived'information frbm'the Agent-General announcing that the ioan of £1,000,000 has been publicly issued, applications to close on the Bth inst. He is of opinion that there is a fair prospect of a successful floatation. The v 4oau represents £750,000 .authorised for public works during -the recent session, and other authorising Acts make up the extra quarter ef a million. The loan isV-being issued: for seven years. in. 4 per cent debentures at , par, with option to convert into 3$ per cent inscribed stock during the first two years at 103, during the next at 101, and during the last three years at-par. The inscribed stock would, of course, carry a long currency. The Government is pf opinion that the price and conditioris.are most advantageous to the colony, indeed they look upon the flotation as one of the most successtul emissions made for a great number of years wheh' tbe depressed condition of the , mbney market, and the enormous advantageous, terms given by the Japanese Government tb investors -in their recent war loans are considered. The country must be congratulated upon the terms of the present loan issue."