NEW SOUTH WALES LOAN
MORE ADVERSE CRITICISM. (Rec. March 28. 5.5 p.m.) London, March 27. The financial editor of "Nation and Athenaeum,” commenting on the New South Wales loan, emphasises the lack of details in the prospectus. He then proceeds to point out the growth of the State’s debt and the increase of the annual charge on it by £1,000,000 since 1924. "It is,” he.says,’ ’’little short of a scandal that New South Wales is able to raise mpney so cheaply by means of the Trustee Act." “Why,” he asks, “should its loans, offering an uncertain security, be admitted as full trustee securities when English electric light and power debenture stock are not treated in a similar way?”—Aus.-N.Z. Cable" Assn.
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Bibliographic details
Dominion, Volume 19, Issue 156, 29 March 1926, Page 7
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120NEW SOUTH WALES LOAN Dominion, Volume 19, Issue 156, 29 March 1926, Page 7
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