AUSTRALIAN LOANS.

Dominion, Volume 1, Issue 262, 29 July 1908, Page 7

AUSTRALIAN LOANS.

COST OF MANAGEMENT. (by telegraph—mess association—copriusnr.v (Rco. July 29, 0.40 a.m.) '■ • Brisbane, July 28. ■ The Acting-Premier has-been advised that negotiations between the ,Promier (Mr. Kidston, who is' in England) and the Bank of England have resulted in a roduotion of the charges in conncotion with the management .of ; Queensland loaiis. ', The' reduction will amount to £2500 ; per annum on : existing loans, and a similar amount per million on future flotations. . It was\cabled from London on July 21 that "the Bank -of Englandhad reduced the charges for the inscription and management of colonial stocks by. 12$. per .cent. This will save Nov South Wales about .63000 It is probable that the reduction will bo extended to Queensland and Now, Zealand, saving Queensland about .£3500, and New Zealand about ,£SOOO annually." ' ' SOUTH AUSTRALIAN FINANCES, i i • ■ , -(Ilcc. July 29, 0.15 a.m.) , London, July 28: ■ The "Standard" says that tho city expects that tho new South Australian loan will be in tho shape of a 3} por cent, issue. "Tho Times" states that, contrary to a cablogram received from Australia, it understands that the negotiations with Lloyds Bank for tho purchase of the two million redemption loan-are not yet concluded. The Australian message, to which Tho Times" refers, is evidently that recently sent out from' Adelaide. It stated that the South Australian Govornmcnt had "arranged with Lloyds Bank, London, for , tho purcliaso . outright of tho two million loiiri required toWards tlie redemption of tho £23,095,000 four por cent, loan maturing in January .next. Tho . net realisation (interest plus charges aud discount) will cost tho Government about £3 lGs. Gd. per cent.-per. annum, or a saving of about 13s. 6d, (? 3s. Gel.) per cent."