INTERNAL LOAN
Australia’s New Issue HELP FOR WHEATGROWERS Sydney, Oct. 28. The "Sydney Morning Herald’s” Melbourne correspondent says that the Premiers’ Conference declared itself In favour of an immediate internal loan of £8 million, the issue to be at par bearing a rate of interest of £3/15/- per cent and a currency of ten years. A deadlock was reached when the Commonwealth Bank intimated that it could not underwrite the loan atJess than 4 per cent. Ultimately the conference suggested that the bank chairman, Sir Robert Gibson, convene a conference of the trading banks in Victoria and New South Wales to review the whole problem. Sir Robert informed the conference that he was prepared to do that. The conference carried a resolution urging the Commonwealth Bank to find a sum not exceeding £2l million for assistance to wheatgrowers in the various States.
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Bibliographic details
Dominion, Volume 26, Issue 30, 29 October 1932, Page 11
Word Count
142INTERNAL LOAN Dominion, Volume 26, Issue 30, 29 October 1932, Page 11
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