THE NEW ZEALAND LOAN.
STATEMENT BY THE HON. W. NOSWORTHY.
(PRESS ASSOCIATION SKLEOEAH-)
DUNEMN, June 3
The statement was made to a reporter to-day by tho Hon. W. Noswortliy on the subject of the last New Zealand loan and the comments on its under-subscription by tho public:— "Tho following facts dispose of the question as affecting tho Dominion's credit:—
"Our loan of £7.000,000, issued at 91-5 at tho rate of 4i per cent., was successfully underwritten before tijo issue, 'thus ensuring the Dominion receiving the proceeds when the loan closed. After the issue to tha public tho underwriters were left with oo per cent, ultimately to dispose of. "Following our loan, the London County Council issued a £6,000,000 loan on the same terms as ours, tho underwriters being left with 75 per cent.
"The next loan issued was that of New South Wales for £6.500.000 at the rote being; 5 i-<?r cent., and the underwriters we-re left with 68 P®r cent., notwithstanding more attractive terms for investors.
"It may be mentioned that the interest yield to investors on the three loans was: New.Zealand £4 15s 3d, London County Council £4 los 3d, New South Wales £5 Is Gd.
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Bibliographic details
Press, Volume LXI, Issue 18399, 4 June 1925, Page 8
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198THE NEW ZEALAND LOAN. Press, Volume LXI, Issue 18399, 4 June 1925, Page 8
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