NEW ZEALAND LOAN.
PUBLIC SUBSCRIBES 85 PER CENT. OF DEBENTURES. Bj Telegraph.— Prets Association.— Copyright* LONDON, 7th April. The public have subscribed 85 per cent, or the New Zealand debentures. A large proportion of the applicants declared their intention to convert the debentures into inscribed stock when fully paid. Speaking of the Xew Zealand loan of £1,850,000 just placed on the London market, Sir Joseph Ward stated last night (states a Dunedin Press Association telegram), in reply to a question, that it was being raised under the Public Works Act, and had nothing to do »vith the State Guarantee Departments. He had received adviea that the loan had proved very succeasful. The loan was underwritten, but 80 per cent, had been token by the public, and the balance of 20 per cent, fn the hands of the underwriters was a comparatively small amount, both from the point of view of New Zealand and tha point of view of the underwriters, so that it was regarded in London us a very successful financial operation.
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Bibliographic details
Evening Post, Volume LXXIX, Issue 82, 8 April 1910, Page 7
Word Count
173NEW ZEALAND LOAN. Evening Post, Volume LXXIX, Issue 82, 8 April 1910, Page 7
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