NEW AUSTRALIAN LOAN

Press, Volume LXXI, Issue 21510, 27 June 1935, Page 11

NEW AUSTRALIAN LOAN

OFFICIALS SURPRISED AT UNDER-SUBSCRIPTION BELIEF THAT RATES WILL HAVE TO BE RAISED (Received June 26, 10.15 p.m.) CANBERRA, June 26. Government officials were surprised that the n4w £ 10,000,000 loan (at 3ij per cent., issued at £99 10s) was under-subscribed to the extent of £1,700,000. The consensus of opinion is that the rate of interest will have to be raised still further if the remainder of the borrowing programme of the Loan Council is to be successful. ITo fulfil the loan programme £15,500,000 has s!ill to be raised.l