CITY OF AUCKLAND LOAN
UNDERWRITTEN IN LONDON.
London, January 20. The city of Auckland loan for £400,000, 5 per cent., at 97, has been underwritten.—Aus.-N.Z. Cable Assn.
Auckland, January 21. The peiiod of the Auckland city loan of £400,000 on the London market is 33 years, the rate of interest is 5 per cent., and a sinking fund of 1 per cent, will be provided. The loan will be issued at £97, and at this price the return to the investor, including tlie bonus on redemption, will be £5 3s. 9(1. per cent, of the total. Of the £lOO,OOO half is on account of the consolidated loan of 1924, and half on account of the streets loan of £710,000 authorised in 19:>1. The £200,000 on account of the consolidated loan is to reimburse the general revenue of the council for capital expenditure on trainways and waterworks extension. The £200,000 on account of the streets loan is to reimburse the general revenue for the. cost of street paving and other wor .s carried out during the Last twelve months.—I’r< ss Assn.
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Bibliographic details
Dominion, Volume 19, Issue 100, 22 January 1926, Page 9
Word Count
180CITY OF AUCKLAND LOAN Dominion, Volume 19, Issue 100, 22 January 1926, Page 9
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