NEW ZEALAND LOAN

Dominion, Volume 18, Issue 193, 10 May 1924, Page 7

NEW ZEALAND LOAN

TESTIMONY TO POPULARITY IN BRITAIN

London, May 8. The city editor of “The Tinies” says that the prompt success of the. New Zealand loan is a further testimony to tlie popularity of. New Zealand as a borrower in Britain, for tile terms do not leave much margin, for a premium in view of the existing level of British and colonial securities— “The Times.’’

ALLOTMENT TO APPLICANTS.

London, May 8.

Larger applican ts for the New Zealand loan receive about 25 nor centum, and the smaller applicants a little more. Dealings commenced at par and at Is. Sd. premium, and are now about par.—Aus.-N.Z. Cable Assn.

FAVOURABLE COMMENT ON TERMS.

By Telegraph —Puv.ss Association. Dunedin, May 9.

Local comment on the New Zealand loan terms are very favourable, bankers emphasising the obvious financial standing of the Dominion. Ono banker thought it might create exchange difficulties, as already banks had too much money in London. Leading stock and share brokers attributed the tightness of money in the Dominion to the large number of loans being raised by boroughs, power boards and cities. One broker thought the Government should borrow two or three millions at the . rate of the present loan, re-lending it at an increase of J to 1 per cent, to bodies nt present raising loans.