THE HALF-MILLION LOAN.

Evening Post, Volume LXVI, Issue 152, 24 December 1903, Page 6

THE HALF-MILLION LOAN.

INTERVIEW WITH SIR JOSEPH WARD. • The flotation locally of tho half-million Joan wus the subject of somo brief comments by tho Postm«stor-Goneral (Sir Joseph Ward) to an Evening Post 10porter this morning. It in, said Sir Joseph, iv very huccessful flotation considering the fact that thero were no offers irom any Ufo or firo insurance offices, and that thero were only seven tenders from Australia— one for £2000 and tho rest under £500. Thero ia uo doubt that ..« °,, uaa neo " recently a movement to arm" the antes of interest. Porsonully, i do not think thero is any justification for it, but the fact remains that tho effort h.is been made, and naturally that would havo a tendency to keep intending investors off with a view to doing better with their money if they could. That, combined with the fact that there has in * more pronounced way during the last week or two been a very uneaiiy feoling regarding tho prospects of between Japan and Russia (which if it did occur would materially affect and diituib tho tnglwh market), makes it all the more gratifying that tho loan was over-sub-v »crihed. It is, in my opinion, Bnid Sir Joseph, a matter for congratulation that at such a timo what. must be regarded as a large loan floated almost entirely within our own colony has bpen ki> successful. Indeed, 4f it had not been fully covered, under tho circumstances, should still have regarded ib as witisfactory. I havo no doubt, said Sir Joioph in conclusion, that when -tha timo arrives any depletion that may havo been caused, or said to bo caused, Dy the present loan will be more than made up by the earnings of tho people throughout the colony, who recognise tho advantage of the interest being kept within our shores.