NOTES OF TO-DAY
THE MORTGAGE BOND
ISSUE
INTERNATIONAL UNCERTAINTY
/•v (iii' OUR COMIfBSCIAI. SDITOB.) ThtP view that had there been no uncertainty about the international situation, the Mortgage Corporation bond issue would have been more heavily oversubscribed, was expressed by Mr H. Kitson, chairman of the Christchurch Stock Exchange, yesterday. Mr Kitson said that people today understood more of international conditions, aha the rate offered was not high enough to drive from their minds the thought of war. Applications were much heavier just after the issue was announced than they were later on when the Italian-Abyssinian question became, more intense. This was a reversal of the experience with the Reserve Bank issue. Probably the greatest factor, the brighter outlook for industrial issues, which was also mentioned by Mr Kitson, was responsible for the limit of the oversubscription. Almost every firm which has reported during the last few months has shown increases in earnings, and has predicted bright things for the future. This would be an inducement to investors to hold off relatively low returns and wait for something better to present itself.
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Bibliographic details
Press, Volume LXXI, Issue 21577, 13 September 1935, Page 15
Word Count
182NOTES OF TO-DAY Press, Volume LXXI, Issue 21577, 13 September 1935, Page 15
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